Flooding is the most pervasive natural disaster in the world. Since 1980, floods have killed over 250,000 people and caused over USD 1 trillion in damage, accounting for about 40 percent of natural catastrophe losses. Risks are increasing due to climate change and the growth of populations and economic activity in flood prone areas. This has implications for prosperity and ... Continue Reading »
Environmental
GC Capital Ideas Top Climate Change Insights
The 2021 Global Risks Report posits that climate change impacts cannot be ignored. Here we bring together a roundup of recent GC Capital Ideas posts focusing on climate change. The 2021 Global Risks Report is published by the World Economic Forum with support from Marsh McLennan. A Hot Opportunity – Four Trillion Reasons To Accelerate the Energy Transition: Today, it is ... Continue Reading »
A Hot Opportunity: Four Trillion Reasons To Accelerate the Energy Transition
Today, it is crucial for companies and the (re)insurance market to incorporate climate change into business considerations as investors, ratings agencies and financial regulators apply pressure on firms. If European companies do no more to reduce carbon dioxide emissions than they have currently promised, Earth’s temperature will be on track to rise 2.7 degrees Celsius by 2100. ... Continue Reading »
Climate Change Impacts Cannot Be Ignored: Global Risks Report 2021
Environmental concerns gained traction among risks identified by businesses surveyed in the World Economic Forum’s (WEFs) Executive Opinion Survey, which informs the 2021 Global Risks Report, published by the WEF with support from Marsh & McLennan. Four of five environmental risks featured in the top 20 global rankings for the first time. This trend is particularly ... Continue Reading »
GC Capital Ideas Top Climate Change Insights of 2020
Here we highlight the top stories of 2020 that GC Capital Ideas has presented on managing risks associated with climate change. ... Continue Reading »
Protecting the Public Purse: The Role of Public-Private Partnerships in a Warmer World
In light of COVID-19, the 26th United Nations Climate Change Conference of the Parties (COP26) – the most significant climate summit since the 2015 signing of the Paris Agreement – was postponed. However, this does not signify that climate change has been knocked off the agenda. In fact, critical momentum around this issue continues to build, according to Ruth Lux, Head of ... Continue Reading »
Video: What Governments Can Do to Identify and Build Resilience Against Climate Risks
Climate change risk is, by its very nature, massively disruptive, and nations are responsible for an increasing share of the costs as communities and businesses rely more and more on state natural disaster relief. Put simply, insurance penetration is falling behind rising loss trends, and the situation is only going to deteriorate going forward, especially as climate change ... Continue Reading »
Video: The Reinsurance Market and Climate Change
Guy Carpenter recently participated in a series of videos with The Insurer, in which experts from throughout Guy Carpenter opine on different aspects of the contemporary risk landscape. ... Continue Reading »
Climate Change is an Opportunity for Business to Thrive
The reinsurance market exists to help risk aggregators — often insurance entities — manage the volatility embedded in their obligations to policyholders when adverse events, such as floods, wildfires and hurricanes, impact many of their policies at the same time. As climate change and the associated increase in natural catastrophe events alters the contemporary risk landscape, ... Continue Reading »
How Overlooking Climate Change Could Become a Personal Liability
Reinsurers are well-placed to advise clients on responding to climate change risk. As climate change and the associated increase in natural catastrophe events alters the contemporary risk landscape, there is now an opportunity for companies to partner with the (re)insurance market and put its expertise to work. Climate change is complicating two of the most important board ... Continue Reading »
