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Title: Insurers Want Businesses to Wake Up to Costs of Extreme Heat

Link: https://news.slashdot.org/story/25/06/18/1550...

Swiss Re has identified extreme heat as a significant insurance threat in its
latest annual report on emerging risks with the Zurich-based reinsurer noting
that up to half a million people globally die from extreme heat effects each
year. The death toll exceeds the combined impact of floods, earthquakes and
hurricanes. Heat waves contributed to conditions that generated $78.5 billion
in insured wildfire losses globally from 2015-2024, Swiss Re reported. The
Los Angeles wildfires this year could add up to $45 billion in insured
losses, according to UCLA Anderson School of Business estimates. The
insurance industry has historically underestimated heat-related costs because
damages spread across multiple policy types rather than appearing as a single
category. Construction firms face rising medical insurance and workers
compensation claims when outdoor workers suffer heat injuries, plus potential
liability for inadequate cooling breaks.

Read more of this story at Slashdot.

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