Climate change might make protection unaffordable
Saturday, 10 22 2016, Category: Nature, Country: World
The insurance sector is concerned that continuing global rises in temperature could make it increasingly difficult to offer affordable financial protection, according to Insurance Europe, a representative body for 34 national insurance associations.
Climate change has been identified as an emerging risk by leading insurers and reinsurers over 20 years ago and is now recognised as an issue of global importance.
The Intergovernmental Panel on Climate Change has reported that the effects of climate change can now be observed across all continents and oceans. The continued rise in average global temperatures is expected to lead to more frequent and severe natural catastrophes around the world.
Source: Intelligent Insurer