Climate change to challenge re/insurers risk management
Thursday, 04 30 2015, Category: Insurance and Reinsurance, Country: World
Catastrophe risk management efforts utilised by global re/insurers could be put to the test should scientific predictions for more severe and frequent climatic events take fold, according to Standard & Poor’s (S&P) Rating Service.
In a new report, titled “Climate Change Will Likely Test The Resilience Of Corporates’ Creditworthiness To Natural Catastrophes,” ratings agency S&P explores the impact of more devastating natural disasters in an increasingly interconnected world.
“While recent history shows that natural catastrophes may have not been a major rating factor on corporate credit quality in the past, their effect in the future may increase considerably if, as scientific evidence suggests, we experience more frequent and extreme climatic events,” explains S&P.