1. Growing Climate Risks May Be 'Impossible to Model' -and Ultimately Uninsurable';J Shankleman;The insurance "protection gap" for weather related losses remains significant,2017
2. For example, a survey of firms conducted by the Federal Reserve Bank of New York (2014) after Superstorm Sandy (2012) found that almost a third of the affected firms had no insurance, and only a few had business disruption or flood insurance. Losses also came from sources which are harder to insure: 59% of firms reported losses from decreased customer demand;S Batten;Bank of England Staff Working Paper No,2016