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Insurers urged to protect themselves against climate change risks

Posted On: Mar. 28, 2023 9:49 AM CST

The Central Bank of Ireland has urged insurers to shield themselves against risks emerging from climate change which could threaten their existing business models and make it harder to provide affordable insurance, Irish Examiner reported. The warning comes after its report found that only 20% of insurers fully integrate climate change risk into their management framework, with fewer than half conducting some form of scenario analysis or stress testing.