Brazil have been known as a really stable place without extreme climate events, but this year we had one of the worst floods on the history of the country that got all the insurance industry with their pants down. And now everyone is having to re model their assumptions and the re insurance rates went to the roof.
Brazil is a gigantic bowl catching the wet air coming in from the Atlantic. Ofc it floods. You’re only feeling it now because deforestation is out of control and surprise! Those forests protected the rest of the area from the worst of the floods.
Brazil have been known as a really stable place without extreme climate events, but this year we had one of the worst floods on the history of the country that got all the insurance industry with their pants down. And now everyone is having to re model their assumptions and the re insurance rates went to the roof.
Brazil is a gigantic bowl catching the wet air coming in from the Atlantic. Ofc it floods. You’re only feeling it now because deforestation is out of control and surprise! Those forests protected the rest of the area from the worst of the floods.