European Commission President Ursula von der Leyen has announced the formation of a climate insurance alliance aimed at expanding coverage for extreme weather incidents. This initiative follows a summer characterized by intense heatwaves, widespread wildfires, and significant droughts across the continent. Data indicates that Europe is warming at double the global average rate, establishing it as the fastest-warming continent worldwide. The recent season caused severe disruptions, including fatalities, power supply issues, school closures, and reduced economic productivity. With only a small fraction of climate-related losses currently covered by insurance, the bloc intends to address the growing financial risks associated with these environmental challenges through this new collaborative framework.
Source : CGTN
Photo : CGTN
