When a hurricane or a wildfire strikes, the economic damage is usually very visible — roofs are ripped off or charred homes line roads. Heat waves cause financial damage, too, but it’s more diffuse: Farm crops might wither, construction workers pause or data centers sputter out, forcing customers offline.
ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#SME#href” href=”https://economictimes.indiatimes.com/topic/climate-risk” target=”_blank”>Climate risk models, which are widely used in the insurance industry, can estimate the likelihood that fires or ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#SME#href” href=”https://economictimes.indiatimes.com/topic/floods” target=”_blank”>floods will affect a specific place in the US, even down to the address level, and how much damage that would wreak. So far, the…
