Insurers worry a financial crisis may come from climate risks

Mobile homes stand in a flooded neighborhood in Bonita Springs, Florida, on Tuesday, Sept. 12, 2017. Hurricane Irma smashed into Southern Florida as a Category 4 storm, driving a wall of water and violent winds ashore and marking the first time since 1964 the U.S. was hit by back-to-back major hurricanes. (Photo: Daniel Acker/Bloomberg)

Insurers are increasingly worried that rising temperatures will lead to a slump in property values that could spark broader financial turmoil.

Those were the conclusions a group run out of the University of Cambridge including some of the world’s biggest insurers. In a report published Friday, ClimateWise said that an increasing catastrophes linked to climate change could triple losses on property investments over the next 30 years.