The intention of this position paper is to provide insurance sector risk professionals, and wider stakeholders, with a clear understanding of climate change implications for the insurance industry, both from an underwriting and investment perspective, and to equip them to challenge their businesses and clients in their responses to climate change. The paper aims to navigate the main issues, and provide a clear and up-to-date view of the climate change challenge, centred around the potential impacts on the insurance sector.
The time to act is upon us. The climate is changing and ‘the heat is on’.