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Central bank calls for correct pricing of climate risks

Posted On: May. 30, 2019 6:51 AM CST

Extreme weather and insurance

The European Central Bank said that extreme weather accounted for more than 80% of insured catastrophe losses in 2018 and called on financial institutions to correctly price climate change-related risks, Reuters reported. The European Central Bank called for reliable and comparable data to set up a climate risk assessment framework and mitigate threats to assets and insurance liabilities.

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