Climate change impacts drive insurance and meteorological warnings

Experts are warning of the escalating economic and environmental consequences of climate change. In Paraguay, insurance specialists are analyzing how to adapt the insurance market to increasingly complex climate scenarios. Following recent extreme weather events, there is a growing need to evaluate catastrophic protection, reinsurance programs, and the capacity of companies to manage repairs and supply chain disruptions. While agriculture and livestock remain highly vulnerable, industry and services are also facing risks from flooding, power outages, and infrastructure damage.

In the Mediterranean region, biologist Oriol Palom warns that the area is heading toward a catastrophic scenario. With global warming potentially reaching 3 degrees Celsius by the end of the century, the Mediterranean faces more frequent heatwaves, droughts, and intense 'dana' storm events. Palom predicts that 2026 could be the warmest year on record, with 2027 potentially surpassing it. He emphasizes the urgent need for better territorial planning, such as halting construction in dangerous riverbeds, to mitigate economic repercussions in the housing and insurance markets.