Analysis-Europe's heatwaves expose insurance gap as business losses mount

Recent heatwaves across Europe have highlighted a critical insurance gap as business losses continue to mount. The extreme temperature spikes, exemplified by severe conditions in Italy, are creating financial vulnerabilities for companies. Current insurance frameworks are proving insufficient to cover the escalating costs associated with these climate events. This situation underscores an urgent need for better risk management and expanded coverage to protect European businesses from the increasing economic impact of recurring extreme heatwaves.