I briefly worked in the insurance industry in Canada. FWIW in my experience the industry is incredibly backwards. I wouldn't expect their prices to reflect anyt

I briefly worked in the insurance industry in Canada. FWIW in my experience the industry is incredibly backwards. I wouldn't expect their prices to reflect anything meaningful about climate risk. Quite the opposite. I rather think that the industry is jumping on the climate change band wagon precisely because their analytics are so poor. (Don't get me wrong, climate change is happening. I just think industries are going to profit from it any way that they can. In this case, this is a cover-your-ass move because the industry hasn't invested in this analytical research. Labeling bad policies that should never have been written at a certain price as climate change is a convenient excuse.) This is anecdotal, but the one I worked at had no weather/climate modelling and was only just beginning to leverage even the most basic analytics across the company. From what I heard from people in pricing was that their pricing was also a mess for property. They basically just gave up on selling insurance to anyone within 100 meters of water. They did account for elevation to some degree so that they wouldn't insure people in a flood plain, but much of the process was kludgy and ad hoc. The company is a reasonably big player and is (laughably) considered to be very technically advanced in the broader market. Even the biggest players are just moving out of manual data entry so I am not overly hopeful about the broader industry in this country. On the other hand, Canada has a very sheltered insurance market and it desperately needs more competition. It's very protected though so I don't expect that to happen any time soon. If there was more competition, I would expect the analytics to be better and yield a more accurate picture of the real climate change costs based on the existing science.