A new study underscored the variety of risks multiplied by climate change, including declining air quality, natural hazards, and water availability, as well as the likelihood of major heat stress throughout various major cities. Risk managers, insurers, and underwriters must be prepared with proactive resilience and more nuanced analytics to effectively mitigate the growing risks.
Less predictable P&C claim costs as a result of climate change tops the list of major concerns for insurers in Bank of America’s new global survey. In today’s world, it...