How Climate Change is met by Insurance
Updated: May 25, 2022
Climate Change & Insurable Losses
Climate Changes lead to Losses to Business, according to Swiss Re :-
"Climate change impacts and natural disasters are increasingly being felt globally. In fact, natural catastrophes in 2021 resulted in global economic losses of USD270 billion, 40% of which was covered by insurance.
Hurricane Ida which hit the US last year, was identified as the year's biggest loss event.
Climate change influences the physical nature of events which could lead to significant economic losses, it is critical that businesses adopt and embrace risk mitigation measures that would enable them to resume business operations quickly following such unforeseen events."
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