“We can really talk about adaptation. How to build our infrastructure, our houses, our streets, our pipelines, our grids in such a way that they can withstand certain forms of weather phenomena. This is something that we can do with a very, very easy economic case behind it,” Thallinger said.

That’s the relevant part. “More of the same” is not possible, but that’s what a lot of people think that is normal.

“If the losses keep escalating, it just becomes uneconomic for insurers and reinsurers and even the capital markets. So, something has to be done to really bring together both resilience and protection.”

Uninsurable precedes uninhabitable.

The actual drama starts when the question of “who gets bailed out” becomes mainstream.