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🚨 Insurance insiders are speaking out about what their industry says behind closed doors on the climate crisis: bit.ly/4ypNOMj Their memo echoes what CIEL and partners have long warned: insurers are passing climate costs onto the public as homes and key businesses lose coverage. 1/4 🧵

📈 The industry’s own models show climate damages rising. Yet insiders say too little is done to warn governments and the public. Worse: in some firms, modelers are told to give projections a “haircut” and “manage down the numbers” to keep deals flowing. 2/4

🙅 Insurers have an exit plan: reprice, restrict, then withdraw coverage, getting out before the costs land on them. The memo says this has already begun and will now accelerate. When insurers walk away, communities and governments are left holding the bill. 3/4