Anonymous insurer modeller warns of understated climate disaster risks

Summary

An anonymous modeller who says they work for a major insurer warns that parts of the insurance industry are understating climate-related disaster risks. The Guardian's writer says they are being pressured to cut forecasts of disaster losses to make insurance more affordable and win business, and alleges that such pressure is often aimed at lowering prices rather than improving models. The writer warns that insurers taking on too much risk could have far-reaching consequences for the global financial system.

Timeline

1. The Guardian

   14 Oct 2026, 10:00 UTCSource ↗

   The Guardian reports that an anonymous modeller at a major insurer says they face pressure to reduce disaster-loss forecasts and alleges that much of the industry is fudging climate-risk numbers.