Bank of England may test insurers for climate change resilience

The Bank of England's insurance regulator said that local insurers are likely to face stress and scenario tests to see how they cope with fallout from climate change on their balance sheets, Reuters reported. David Rule, executive director for insurance supervision, said that the bank was conducting “stock-take” meetings with around 10 insurers on their responses to climate change. Mr. Rule said that the bank plans to issue a policy statement this year on follow-up actions.

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