Climate change and the insurance sector

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<title>Climate change and the insurance sector</title>
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<namePart>Dlugolecki, Andrew F.</namePart>
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<abstract>Climate change matters to the insurance sector. In terms of underwriting, on one scenario, the economic cost of weather losses could reach over 1 trillion USD in a single year by 2040. The impacts will be worse in developing countries. The private sector needs to work with the public sector, as part of a "triple dividend" approach that coordinates adaptation, disaster management and sustainable economic development. For asset management the indirect impacts are key. Greenhouse gas emissions have to drop by 60 per cent by 2050, which means transforming the energy economy. Finance for renewables will reach 100 billion USD a year soon. Political uncertainty is a serious blockage to market forces, and the re-evaluation of assets and project returns is happening too slowly. Finally, insurers have a duty as ubiquitous players in the economy and society to help to shape climate policies in a responsible and effective way</abstract>
<note type="statement of responsibility">Andrew Dlugolecki</note>
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<topic>Cambio climático</topic>
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<topic>Mercado de seguros</topic>
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<topic>Catástrofes naturales</topic>
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<topic>Seguro de riesgos extraordinarios</topic>
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<topic>Financiación de los riesgos</topic>
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<topic>Política medioambiental</topic>
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<title>The Geneva Papers on risk and Insurance : issues and practice</title>
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<publisher>Trieste, Geneva : The Geneva Association</publisher>
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<text>Vol. 33, nº 1, January 2008 ; p. 71-90</text>
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