Around the world last year, the cost of storms and cyclones alone was more than $400 billion US. In 2024 the planet was hit by 58 weather disasters with damages totalling more than a billion dollars. Not only are these events becoming more destructive and more expensive, they are increasingly happening back-to back in a phenomenon known as “weather whiplash”. And numerous insurance companies are either folding or limiting what they will insure. So who pays for the damage?

• GUEST: Paula Jarzabkowski, Professor of Strategic Management at the University of Queensland and as a Member of the OECD High Level Advisory Board for the Financial Management of Catastrophic Risks.
• PRODUCER: Catherine Zengerer