Europe's flames continue to surge, and the insurance industry is facing a re-evaluation of catastrophic risks.

The European continent is experiencing the fastest warming rate globally, and the insurance industry is beginning to embrace a new era of catastrophic risk in Europe. Insurance companies, reinsurers, and insurance brokerages all expect that premiums related to natural disasters will rise, and the scale of losses will also expand. More importantly, they do not view the recent frequency of extreme high temperatures as merely a short-term shock but see it as a long-term trend. Will Bruce, the global head of climate risk consulting at Aon, the world's second-largest insurance brokerage, stated that the industry is "actively assessing" to what extent the rise in temperatures "represents a fundamental shift in Europe's catastrophe risk landscape."