Climate change – Insurance industry weighs up the risks
A global collaboration of leading insurers focused on reducing the risks of climate change has continued to make progress in the second year of its ‘ClimateWise’ initiative. Insurers need to know whether events like the recent Cumbrian flooding are becoming more frequent and/or more severe. Otherwise they can’t make the right decisions on what premiums they should charge, who and what they should cover, and what they should put in the small print of exclusions.
Forum for the Future has just completed its review of the second year reports by the 37 insurance companies that make up ClimateWise, and found evidence of increased collaborative research into risk analysis of this kind. The report ClimateWise the 2009 Review is available to download (4.9Mb).
Source: Forum for the Future