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Climate Change Could Cut the World Economy by $23 Trillion in 2050, Insurance Giant Warns. https:// www.nytimes.com/2021/04/22/climate/climate-change-economy.html#:~:text=483-,Climate%20Change%20Could%20 Cut%20World%20Economy%20by%20%2423%20Trillion%20in,and%20invests%20its%20mammoth%20portfolios 10. Messieh, N. (2023). Heat is killing us—and the economy too. Atlantic Council. https://www.atlanticcouncil.org/content- series/the-big-story/heat-is-killing-us-and-the-economy-too/. 11. Eavis, P . and N. Angarita. (2023). Drought saps the Panama Canal, disrupting global trade. The New York Times. https://www.nytimes.com/2023/11/01/business/economy/panama-canal-drought-shipping.html. 12. Topping, A. (2022, 20 July). Heatwave led to London firefighters’ busiest day since second world war. The Guardian. https://www.theguardian.com/uk-news/2022/jul/20/heatwave-led-to-london-firefighters-busiest-day-since-second-world-war . 13. BBC News. (2022). Hammersmith Bridge wrapped in foil during heatwave. https://www.bbc.com/news/uk-england- london-62162687. 14. Bhattacharya-Craven, A., M. Golnaraghi, M. Thomson and T. Caplan. (2024). Climate Change: What does the future hold for health and life insurance? The Geneva Association. https://www.genevaassociation.org/publication/climate-change- and-environment-health-and-demography/climate-change-what-does-future. 15. Zhao, Q., Y. Guo, T. Ye, A. Gasparrini, et al. (2021). Global, regional, and national burden of mortality associated with non-optimal ambient temperatures from 2000 to 2019: a three-stage modelling study. Lancet Planet Health, vol. 5, no. 7. https://pubmed.ncbi.nlm.nih.gov/34245712/. 16. Ioannou, L. G., Tsoutsoubi, L., Mantzios, K., Vliora, M., et al. (2022). Indicators to assess physiological heat strain – Part 3: Multi-country field evaluation and consensus recommendations. Temperature, vol. 9, no. 3, pp. 274-291. https://doi.org/10.1080/23328940.2022.2044739. 17. National Oceanic and Atmospheric Administration. (n.d.). Wet Bulb Globe Temperature: How and when to use it. https://www.weather.gov/news/211009-WBGT . 18. Azzi, M. (2024). Climate change creates a “cocktail” of serious health hazards for 70 percent of the world’s workers. International Labour Organization (ILO). https://www.ilo.org/resource/news/climate-change-creates-cocktail-serious- health-hazards-70-cent-worlds. 19. Occupational Safety and Health Administration. (n.d.). Overview: Working in Outdoor and Indoor Heat Environments. https://www.osha.gov/heat-exposure#:~:text=Millions%20of%20U.S.%20workers%20are,have%20suffered%20 heat%2Drelated%20illnesses. 20. Omoloja, A., Jerry-Fluker, J., Ng, D. K., Abraham, A. G., et al. (2013). Secondhand smoke exposure is associated with proteinuria in children with chronic kidney disease. Pediatr Nephrol, vol. 28, no. 8, pp. 1243-1251. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3703840/. 21. Dasgupta, S., N. van Maanen, S. N. Gosling, F. Piontek, et al. (2021). Effects of climate change on combined labour productivity and supply: An empirical, multi-model study. The Lancet Planetary Health, vol. 5, no. 7, pp. 455-465. https://www.thelancet.com/journals/lanplh/article/PIIS2542-5196(21)00170-4/fulltext. 22. Green, A. et al. (2024). Quantifying the Impact of Climate Change on Human Health. World Economic Forum. https://www.weforum.org/publications/quantifying-the-impact-of-climate-change-on-human-health/ . 23. Emanuel, K. (2024). Convergence: Risk modelling ‘not fit for purpose’. Bermuda:Re+ILS. https://www.bermudareinsurancemagazine.com/convergence-risk-modelling-not-fit-for-purpose. Insuring Against Extreme Heat: Navigating Risks in a Warming World 27

Insuring Against Extreme Heat Navigating Risks in a Warming World 2025