Heat stress could claim millions of lives annually by 2050. — ATHENA/Pexels
It was concerning to see that the UK Institute and Faculty of Actuaries (IFA) has now determined that “planetary insolvency” is now a relevant risk for our planet. This means that this factor will be utilised by actuaries in estimating future business and domestic losses. This will then have a direct impact on our insurance premiums.
Therefore, let us understand what planetary insolvency means.
