The insurance market is not ripe enough for climate change

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.