The insurance market is not ripe enough for climate change

According to Christina Figueres, executive secretary of the United Nations Framework Convention on climate change, the insurance industry is not yet ready to cope with the fallout of climate change.
Photo credit: insurance-natural catastrophe

The world will not only face new kinds of risks, but will also have to manage risks of unprecedented levels. Globalization and the domino effect will compel insurers to meet the increase in the frequency, severity and the impact of events.

According to the United Nations experts, less than 1% of the sums of climate claims are insured in developed countries. The Lloyd’s syndicates announced, in early December, their decision to raise the capacity allocated to natural catastrophes to 400 million USD.

Your rating: None
Advertising Program          Terms of Service          Copyright          Useful links          Social networks          Credits