Think Tank - Climate Change: Impact on Insurers and How They Can Help with
Source: Asia Insurance Review | Jun 2008
Climate change is already affecting the global insurance industry with changes seen as being negative, although opportunities also exist. Areas of insurance coverage may be affected in addition to property damage and the potential for third-party liability claims from climate change is less well-understood but has potential to affect the industry. In this extract from the Geneva Papers, Mr Trevor Maynard, Manager of Emerging Risks at Lloyd’s, notes that while society cannot insure its way out of this problem, insurance can help to spread the impacts where possible by pooling the risks.
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