Europe wildfires force insurance price hikes, withdrawalsRecord-breaking wildfires in France and Spain in July are forcing insurers to raise prices and withdraw from high-risk areas, while reinsurers are reducing coverage or imposing higher deductibles in parts of Europe, Politico reported. The European Central Bank and European Union have proposed a public-private reinsurance program to address climate-related insurance challenges, although some groups argue that large insurers should shoulder more of the cost since their profits are going up.