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Lloyd's calls on insurers to consider climate change risks in models

May 8, 2014 - 6:00am


Lloyd's of London has called on insurers to take climate change into account in their models so as to avert unpredictable losses to businesses, The Guardian reported.

The insurance market said global damage and weather-related losses have jumped to almost $200 billion during the last 10 years from an annual average of $50 billion in the 1980s. Lloyd's exposure management and reinsurance head Trevor Maynard said hurricanes "are getting stronger worldwide, and especially over the north Atlantic."

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