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Hurricanes, snow storms, floods and other extreme weather events linked to the increase of the planet's average temperature are occurring with greater frequency and magnitude all around the world, triggering significant impacts on human lives and properties. The insurance industry already experiences the direct and indirect impacts of climate change, and this affects shareholders and other key investors as the number and cost of climate-related insurance claims steadily rises.
Sustainalytics' Laurence Loubières explores the risks and opportunities climate change presents to the insurance industry in Insurers and Climate Change: Taking Risk Management to the Next Level. The report also examines why insurance companies should move quickly to integrate this issue into their risk management strategies and the role stakeholders play to make companies proactive instead of reactive.
Webinar Recording: Insurance and Climate Change: Taking Risk Management to the Next Level
According to the Intergovernmental Panel on Climate Change 2007 report the increase in the average mean temperature of the planet is leading to an increase in the probability of the occurrence of hot and extremely hot weather.This means that major floods, hurricanes and storms will happen with greater frequency but will also likely be more severe than what has been experienced so far.