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International

Increase in extreme weather events provides huge opportunities for insurers: S&P

November 19, 2014 Reprints

Standard & Poor's Corp. said that an increase in severe weather events provides opportunities for insurers, The Citizen reported.

Since 1980, there has been a 141% increase in such events for each decade, S&P said, adding that the trend is worrisome for underinsured nations.

The ratings agency said the economic effects of natural disasters include "a short-term increase in fiscal deficits as tax revenues fall, as well as an increase in trade deficits as exports decrease while imports rise."

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Increase in extreme weather events provides huge opportunities for insurers: S&P

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