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The Guardian - UK
The Guardian - UK
Business
Heather Stewart

Rising cost of insuring against climate crisis will have wider knock-on effects for UK economy

United Kingdom Swati Dhingra Andy Burnham CityUK Insurance ECIU
A security guard holds an umbrella for shade with the London skyline in the background
Because of important role of insurance in oiling wheels of investment, TheCityUK says the difficulties of pricing climate risk will have knock-on effects across the financial system. Photograph: Tolga Akmen/EPA

Anyone attempting to notch up a productive day’s work in the searing heat of southern England this last week was left in little doubt about the impact of extreme weather.

But the economic effects of the climate crisis for the UK are not confined to the many hours lost to quietly perspiring – or fetching kids dismissed early from scorching classrooms.

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