According to the insurance industry, climate change could make building insurance unaffordable in some cases. “We are gradually moving towards the uninsurability of risks,” warned RV CEO Norbert Rollinger, who is also President of the General Association of the German Insurance Industry (GDV), in an interview with the VRM media group (Saturday).
Rollinger repeated earlier statements that if global warming reaches three or four degrees, insurance coverage in the building sector will practically no longer be possible: “Then insurance will become so unpredictable and so expensive that we will no longer be able to make an economically viable offer.”
More extreme betting events are looming
The Paris Climate Agreement of 2015 sets out the goal of stopping global warming to as little as 1.5 degrees and thus preventing the worst consequences of climate change. Scientists warn that every tenth more warming would have even more catastrophic consequences in the form of more extreme weather events.
“Thousands of new houses are still being built in flood zones. This must be stopped,” demanded Rollinger. “Insurance premiums will double in the next few years if there is no adaptation to the effects of climate change,” said the R V boss in the VRM interview (“Allgemeine Zeitung Mainz”, “Wiesbadener Kurier”, “Darmstädter Echo”).
