Einen Link zum Memo in deutscher Sprache finden Sie unterhalb des Textes.
Vous trouverez ci-dessous le lien vers la note en français.
A link to the English language memo can be found below the text.
This morning, Inside Track x (Re)Insurance published a memo from senior professionals in the UK and European insurance and reinsurance industries.
They say that models show increasing risk of physical damage as a result of climate change.
They are worried that neither government nor their customers understand the full implications of this.
In their words:
“We are worried that the risk levels we are seeing either aren’t being communicated to or aren’t being properly internalised by government . Without intervention these physical risks will translate into major economic risk.”
“The undermining of the mortgage market drove the Global Financial Crisis – we are worried a major increase in uninsured, high-risk properties could manifest in a similar way as climate impacts intensify.”
“Rather than take action to help government understand and reduce climate risk or help the general public come to terms with the impacts facing different communities, from farming regions to coastal, mountainous and wildfire prone areas, we are seeing our industry turn more insular.”
“In some (but not all) firms, those raising these issues are coming under increasing pressure. For example, natural catastrophe modellers and actuaries are being asked to give a ‘haircut’ to future projections or ‘manage down the numbers’ in order to avoid causing alarm and to keep getting deals done.”
“Our industry thrives in environments where risks are relatively predictable. We are moving into a world that is far from predictable and we are neither prepared ourselves or moving to prepare our customers of today , who may suddenly find that they are not our customers tomorrow”