I recall in the late 1990s when I worked in the City of London that SwissRe indicated that reinsurance against climate related damage claims would beyond the insurance sector capacity by 2050.

That’s probably going to happen by 2030 if not 2025. Insurance companies like risk, but they charge a premium for it. If someone owns a €400,000 house with a 1 in 3 year risk of destruction due to flooding the insurance premium would be over €150,000 per year. It’s not going to happen.