Professional Focus: Climate change and the insurance sector
05 May 2020
05 May 2020
Raising awareness of current climate change impacts and future trends to incorporate into planning and strategies for the insurance sector.
ClimateWise is a voluntary global network of (re)insurers, brokers and other insurance industry service providers, committed to leading the sector in addressing the risks and opportunities presented by climate change.
This presentation will cover the latest climate research and projections, climate impacts and likely future scenarios and the implications of these to the insurance sector. It will also explore the broad risk channels climate change presents, why understanding the financial impacts of climate change to the sector is important and how this relates to voluntary disclosure frameworks and regulatory momentum in this space. The presentation will also cover what ClimateWise members are doing to tackle the issues climate change presents to the industry.
- Develop a broad awareness of current climate change impacts and future trends and importance of incorporating this into planning and strategies
- Develop an awareness of global frameworks to build resilience to tackle future shocks driven by climate change
- Understand the main climate risk channels for the insurance sector
- Understand existing voluntary reporting frameworks and global regulatory developments for the sector relating to climate risk and opportunity
- Develop an awareness of ClimateWise, its purpose and research
- Understand where further training and capacity building opportunities exist within the sustainable finance sphere
This document is believed to be accurate but is not intended as a basis of knowledge upon which advice can be given. Neither the author (personal or corporate), Society of Claims Professionals or Chartered Insurance Institute, or any of the officers or employees of those organisations accept any responsibility for any loss occasioned to any person acting or refraining from action as a result of the data or opinions included in this material. Opinions expressed are those of the author or authors and not necessarily those of the Society or Chartered Insurance Institute.