The Earth is embedded in the solar wind, this ever-streaming extremely tenuous ionized gas emanating from the Sun. It is the geomagnetic field which inhibits the solar wind plasma to directly impinge upon the terrestrial atmosphere. It is also the geomagnetic field which moderates and controls the entry of energetic particles of cosmic and solar origin into the atmosphere. During geomagnetic polarity transitions the terrestrial magnetic field decays down to about 10% of its current value. Also, the magnetic field topology changes from a dipole dominated structure to a multipole dominated topology. What happens to the Earth system during such a polarity transition, that is, during episodes of a weak transition field? Which modifications of the configuration of the terrestrial magnetosphere can be expected? Is there any influence on the atmosphere from the intensified particle bombardment? What are the possible effects on the biosphere? Is a polarity transition another example of a cosmic cataclysm? A review is provided on the current understanding of the problem. A first, illustrating model is also discussed to outline the complexity of any biospheric reaction on polarity transitions.