The head of Zurich Insurance Group has warned that Europe faces a growing wildfire protection gap, saying governments are not yet ready to undertake the systemic intervention needed to address the rising cost of climate-driven disasters.
The European Central Bank and the bloc's insurance regulator say just a quarter of losses from climate-related catastrophes over the past four decades were covered by insurers, while the European Commission is preparing a new resilience framework due later this year.
William Denselow reports from Brussels.
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