The ClimateWise report recommends investors take more thorough inventories of housing and business real estate, making logs of flood risks and construction materials used. They should also incorporate scientists' climate projections into their own catastrophe models. (Photo: Shutterstock)
(Bloomberg) — Insurers are increasingly worried that rising temperatures will lead to a slump in property values that could spark broader financial turmoil.
Those were the conclusions of a group out of the University of Cambridge including some of the world's biggest insurers.
In a report published Friday, ClimateWise said that increasing catastrophes linked to climate change could triple losses on property investments over the next 30 years.
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