Climate change raises questions on insurers' capacity to insure risks
Among non-life insurers, it was the No 3 concern, and among reinsurers No 2; problem particularly worrying in emerging Asia where insurance penetration is low
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CLIMATE change has become a top concern among global insurers and reinsurers, as the rising frequency and severity of natural catastrophes raise questions on their ability to anticipate and capacity to insure the risks.
The PwC Insurance Banana Skins 2019 report, undertaken by the Centre for the Study of Financial Innovation, finds that climate change is now seen as a much more urgent threat to the industry than in previous years.
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