Climate change agreement to open new opportunities for insurers, reinsurers

Agreements established to combat climate change threat during the 2015 Paris COP21 climate change conference have created opportunities for the expansion of international insurance, reinsurance and insurance-linked securities industry, Artemis.bm reports.

"The Paris agreement offers both opportunities and challenges for the insurance industry, especially in the areas of risk transfer for extreme events, sustainable energy and public-sector risk financing," said the Geneva Association. The association said that "it seems inevitable that by 2020 the reinsurance sector" will be providing a wider range of risk-transfer solutions.

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