UK insurers’ climate change losses manageable but rates likely to rise, finds BoE

Some covers could disappear, stress test suggests

UK insurers and banks are set to lose 10%-15% of annual profit to climate change and are likely to pass on some of this to customers through price rises, according to the Bank of England’s (BoE) latest climate stress test.

The test also concluded that insurers and banks are making good progress o...

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