Insurers face reputational, financial risks from climate change: Deloitte

Sharanjit Paddam, principal, actuaries and consultants, at Deloitte Touche Tohmatsu Australia, said that large parts of Australia could become uninsurable if climate change continues, Financial Review reported. He warned that climate change could intensify coastal inundation or cyclone risks and if they become too great insruers may abandon certain regions. "Insurers want to write risks and need those risks to be within the right tolerance levels and that's the biggest risk to them from climate change," he said.

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