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Standard & Poor’s warns reinsurers over impact from climate change

September 5, 2014 - 6:00am

Standard & Poor's Corp. has said that many reinsurers don’t yet believe that climate change is having a "material quantifiable" impact on their current risk exposure, reported Blue & Green Tomorrow.

This, the ratings agency said, could prove to be problematic for these reinsurers as extreme weather has resulted in many natural disasters during the past decade. Lloyd’s of London had also recently urged insurers to include climate change into their models to avoid large losses.

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