“Canceled insurance policies and skyrocketing rates” are a premonition of the future under a warming climate. “What we have seen in recent years in terms of insurance losses are but a harbinger of things to come,” said Tim Wagner of the Climate Change and Global Warming Task Force for the National Association of Insurance Commissioners. “Insurance is priced based on statistics and probability. What climate change has done is create ambiguity and uncertainty in the pricing scenario.”
Insurance losses to skyrocket with global warming.