Public-private partnership to face climate change

Participants to the last Asian summit on climate change have debated the steps and measures to implement in order to manage the fallout of climate change. Insurers have, therefore, been asked to work with national public institutions. The poor insurance penetration rate in the region stands as a major obstacle to safeguarding private heritage which is compromised by the increase of the loss experience caused by natural catastrophes. Insurers have to make extra efforts in order to provide products better fit for this kind of risk.

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