Italy to Require Companies Buy Insurance for Climate Risks

Starting Jan. 1, every company in Italy must buy insurance to protect its assets from floods, landslides and other natural hazards that have become more common thanks to global warming. It’s the latest sign of Europe’s rising anxiety about climate change.

As the fastest-warming continent, its climate losses have increased by 2.9% a year from 2009 to 2023, according to the European Environment Agency. This year alone saw epic wildfires in Greece, a crippling drought in Sicily and costly floods in the UK, central Europe and Spain. And there’s still a month left.

The biggest danger in Italy is flooding. Companies affected ...