With increasingly high temperatures on Earth and an increased risk of extreme weather, it may become more difficult to take out home insurance for one's residence and, in the long run, even to borrow money to buy a property.
In many cases, insurance is required to be able to take out a housing loan. And then it can affect other parts of the financial market than just the insurance part, says Emilia Högquist, sustainability manager at the Financial Supervisory Authority.
Increased costs
The Financial Supervisory Authority is initiating an investigation to create a picture of how the insurance industry views the increasingly relevant question of the consequences of climate change and extreme weather that can lead to increased costs for companies.
And if insurance protection can be affected by the changed climate, says Emilia Högquist.
The Financial Supervisory Authority wants to find out if it can also happen in Sweden that consumers no longer have the opportunity to take out insurance, which was the case for some homeowners who were affected by the large fires in California.
Don't know
Either because it is too expensive for them to take out insurance or because it is not possible to take out insurance at all, says Emilia Högquist.
The Financial Supervisory Authority's investigation aims to find out how insurance companies think about these issues.
We don't know that today, but it's part of this investigation that we want to find out, says Emilia Högquist.
