Global insurance already facing £39billion climate change losses in 2023

Climate change is being blamed for the severe thunderstorms, earthquakes, extensive flooding and heatwaves that have led to the global insurance industry already suffering £39billion ($50bn) in losses in 2023. Heading into 2023, Deloitte, warned climate change risk was a pressing issue for insurance regulation with insurers’ and reinsurers’ rates exacerbated by inflation and the […]

Climate change and its impact on insurance risk management

Company boards need to raise their awareness about the risk to balance sheets stemming from climate change, particularly since some aspects of these risks are not covered by conventional insurance. Of longer term worry is the impact the biodiversity loss and the collapse of ecosystems will have on the globe. Climate change is increasingly impacting […]