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International

Hazard intensification likely to become driver of future losses

April 22, 2024 Reprints

Mohit Pande, chief underwriting officer, property, Swiss Re Institute, said that costs related to climate change are just starting to impact customers, and hazard intensification is likely to become a driver of future economic losses, Reinsurance News reported. A Swiss Re report noted that four climate-related weather perils – floods, winter storms in Europe, tropical cyclones, and severe thunderstorms –cause annual losses of $200 billion are intensifying to varying degrees.

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Hazard intensification likely to become driver of future losses

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