A plea from small islands: More insurance for climate change

Source(s): Thomson Reuters Foundation, trust.org
Photo by Flickr user Haluk Akiltopu CC BY 2.0 https://www.flickr.com/photos/akiltopu/22871401824/
Photo by Flickr user Haluk Akiltopu CC BY 2.0 https://www.flickr.com/photos/akiltopu/22871401824/

Rising sea levels and tidal waves are washing away coastlines on many of the 196 inhabited islands of the Maldives, and there is no insurance policy to cover the costs, reports Reuters. Global leaders are close to the end of two weeks of talks to try to agree an accord to slow climate change.

According to the article, for now at least, industry participants see insuring for rising sea levels as a no-go area - as risky as covering a house for fire when someone is already walking up the path with a lit match. "Risks from the slowly but steadily rising sea level are not insurable because there is no sudden and unforeseeable trigger, which is a prerequisite for insurance," said Peter Hoeppe, of Munich Re.

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