New research by the Geneva Assn. analyzes how insurance companies are responding to climate change risk, what they could do in the future and in what situations they may need to partner with governments to successfully mitigate those risks.
The 152-page report, which was drafted by senior insurance executives and international climate change experts, is the second to be published by the international think tank and research institution supported by the insurance industry.
The objective of the research project, launched in May 2008, was to identify and analyze insurance issues such as future claims costs related to climate change, scenario testing and new business opportunities. Political, educational and social aspects of climate change also were addressed.
The report, which was released formally at a Thursday news conference in London, was initially unveiled at the Geneva Assn.'s General Assembly in Koyoto last month. The report is slated to be presented at the World Climate Conference in Copenhagen in early December.
Highlights of the report include:
To learn more about the Geneva Assn., visit www.genevaassociation.org. Geneva Report No. 2 is available for download at www.genevaassociation.org/PDF/Geneva_Reports.
For reprints of this story, please contact Lauren Melesio at 212-210-0707 or email lmelesio@crain.com
