Blog: Is climate change insurable?
Ben Davis of Digital Risks examines how insurers and brokers can survive in the ‘new normal’ of significant and frequent climate-related losses.
As we have seen from the recent fires across Australia and floods in the UK, climate-related disasters have become more frequent and more significant.
What will this mean for the insurance industry and how can firms adapt to this new reality?
Risks
In 2020, the development of natural disasters and the consequential damage they impose on livelihoods across the globe will be a dominant issue the industry.
Munich Re has said that 2017-18 was the worst two-year period for natural catastrophes on
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insurer
Meet the MGA feature: Arc Legal
Arc Legal CEO Lee Taylor outlines the value in having a supportive parent of the scale of AmTrust; and why it makes sense to keep an eye on legislation and social changes in order to innovate and develop new products.
Aviva claims Acturis API first with broker roll out planned for Q1 2025
Aviva has become the first insurer to create a claims application programming interface for integration with software house Acturis.
People Moves: 9 – 13 December 2024
Stay in the loop with the latest personnel moves in insurance.
Sicsic FOI uncovers insurance firms’ £2.7m S166 bill
Insurers and insurance intermediaries paid a total of £2.7m for Financial Conduct Authority-commissioned skilled persons reviews in the financial year 2023/24, according to a Freedom of Information request by Sicsic Advisory.
Review of the Year 2024: Ageas’ Middle, Linklater, Clarke and Beckett
The senior Ageas team wish the term ghost broking is never uttered again, hope for a sustainable ecosystem for the repair and re-use of electric vehicle batteries, and consider what an insurance brokers showstopper might look like on Great British Bake Off.
Drazen Jaksic named Zurich UK CEO as Bailey moves to global life role
Drazen Jaksic has been appointed Zurich UK CEO, moving across from being CEO of Zurich Benelux, as Tim Bailey switches to become CEO of the group’s new global life protection business.
Review of the Year 2024: Pen Underwriting’s Nick Wright
Nick Wright, chief development officer at Pen Underwriting, questions the market’s short memory with regards boom-and-bust; is interested in the future of PIB and pan-European consolidation; and offers a pitch to take part in Bear Grylls’s The Island.
Axa Commercial boss Walker targets turnaround time for brokers
Axa Commercial is two thirds of the way through a technology transformation programme, and Commercial CEO Jon Walker is looking to shorten turnaround times in terms of risk appetite.