Europe's heatwaves expose insurance gap as business losses mount

Heatwaves are increasingly impacting the economy across Europe, leading to significant business losses. These extreme weather events are reducing overall productivity, curbing consumer spending, and raising operating costs for various enterprises. Consequently, the rising frequency and intensity of these heatwaves have exposed a critical insurance gap, as current coverage fails to adequately protect businesses from the mounting financial toll caused by these climatic shifts, highlighting a growing vulnerability within the European economic landscape.