Insurers look to reduce climate change-related exposure

Several insurers and reinsurers including Swiss Re Ltd., Munich Reinsurance Co. and Germany-based Allianz S.E. have stopped insuring coal risks following increasing climate change-related losses, Swissinfo.ch reported citing The Financial Times. Experts said that insurers need to check for risk mitigation measures such as flood barriers, disaster-resistant building materials and supply-chain management before providing insurance against severe weather. Insurers could also face liability for oil companies-related pollution and damage, the experts added.

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