Shafaqna English– The fifth heatwave of the year is hitting Europe hard. The usual early evening hour for outdoor drinks — between 6 and 7 p.m. — has nearly vanished. People now prefer to stay in cool, air-conditioned places, and this has hurt the income of many businesses in the hospitality industry.
Europe’s economy is suffering from repeated heatwaves. Workers are less productive, customers are spending less, and business costs are going up. For insurers, these losses are tricky to handle. Most of the damage is not to property but to business operations, which is harder to insure.
The insurance gap is growing because extreme heat is costing more and more money. Trains are getting delayed, farms are producing fewer crops, and factories are facing higher cooling bills. Workers also have a hard time staying focused and efficient during long periods of very hot weather.
Source: Reuters