Marisa Savage’s Post

Natural catastrophes globally resulted in $380 billion in total losses and $118 billion in insured losses in 2023. The fundamental purpose of #insurance is to provide protection and transfer risk. But this is proving increasingly difficult in a time of more widespread, acute and severe weather events. Solutions to mitigate #climaterisk are going to be expensive and no single group — insurers included — has the wherewithal to address it alone. But insurers can signal the direction of travel. They have more experience analyzing and pricing climate risk than anyone. By actively sharing their insights and working with key stakeholders, they can contribute to a comprehensive climate risk mitigation roadmap and the actions that make it real. Insurers can lead the way, help identify needed interventions and prevent any one group — including carriers and their customers — from bearing the full brunt of the cost to build a more climate resilient society. More in PwC's report 👇 #protectiongap #reinsurance #ILS #catbonds #parametricinsurance

Natural catastrophes globally resulted in $380 billion in total losses and $118 billion in insured losses in 2023. The fundamental purpose of #insurance is to provide protection and transfer risk. But this is proving increasingly difficult in a time of more widespread, acute and severe weather events. Solutions to mitigate #climaterisk are going to be expensive and no single group — insurers included — has the wherewithal to address it alone. But insurers can signal the direction of travel. They have more experience analyzing and pricing climate risk than anyone. By actively sharing their insights and working with key stakeholders, they can contribute to a comprehensive climate risk mitigation roadmap and the actions that make it real. Insurers can lead the way, help identify needed interventions and prevent any one group — including carriers and their customers — from bearing the full brunt of the cost to build a more climate resilient society. More in PwC's report 👇 #protectiongap #reinsurance #ILS #catbonds #parametricinsurance

Natural catastrophes globally resulted in $380 billion in total losses and $118 billion in insured losses in 2023. The fundamental purpose of #insurance is to provide protection and transfer risk. But this is proving increasingly difficult in a time of more widespread, acute and severe weather events. Solutions to mitigate #climaterisk are going to be expensive and no single group — insurers included — has the wherewithal to address it alone. But insurers can signal the direction of travel. They have more experience analyzing and pricing climate risk than anyone. By actively sharing their insights and working with key stakeholders, they can contribute to a comprehensive climate risk mitigation roadmap and the actions that make it real. Insurers can lead the way, help identify needed interventions and prevent any one group — including carriers and their customers — from bearing the full brunt of the cost to build a more climate resilient society. More in PwC's report 👇 #protectiongap #reinsurance #ILS #catbonds #parametricinsurance

Natural catastrophes globally resulted in $380 billion in total losses and $118 billion in insured losses in 2023. The fundamental purpose of #insurance is to provide protection and transfer risk. But this is proving increasingly difficult in a time of more widespread, acute and severe weather events. Solutions to mitigate #climaterisk are going to be expensive and no single group — insurers included — has the wherewithal to address it alone. But insurers can signal the direction of travel. They have more experience analyzing and pricing climate risk than anyone. By actively sharing their insights and working with key stakeholders, they can contribute to a comprehensive climate risk mitigation roadmap and the actions that make it real. Insurers can lead the way, help identify needed interventions and prevent any one group — including carriers and their customers — from bearing the full brunt of the cost to build a more climate resilient society. More in PwC's report 👇 #protectiongap #reinsurance #ILS #catbonds #parametricinsurance

Natural catastrophes globally resulted in $380 billion in total losses and $118 billion in insured losses in 2023. The fundamental purpose of #insurance is to provide protection and transfer risk. But this is proving increasingly difficult in a time of more widespread, acute and severe weather events. Solutions to mitigate #climaterisk are going to be expensive and no single group — insurers included — has the wherewithal to address it alone. But insurers can signal the direction of travel. They have more experience analyzing and pricing climate risk than anyone. By actively sharing their insights and working with key stakeholders, they can contribute to a comprehensive climate risk mitigation roadmap and the actions that make it real. Insurers can lead the way, help identify needed interventions and prevent any one group — including carriers and their customers — from bearing the full brunt of the cost to build a more climate resilient society. More in PwC's report 👇 #protectiongap #reinsurance #ILS #catbonds #parametricinsurance

Natural catastrophes globally resulted in $380 billion in total losses and $118 billion in insured losses in 2023. The fundamental purpose of #insurance is to provide protection and transfer risk. But this is proving increasingly difficult in a time of more widespread, acute and severe weather events. Solutions to mitigate #climaterisk are going to be expensive and no single group — insurers included — has the wherewithal to address it alone. But insurers can signal the direction of travel. They have more experience analyzing and pricing climate risk than anyone. By actively sharing their insights and working with key stakeholders, they can contribute to a comprehensive climate risk mitigation roadmap and the actions that make it real. Insurers can lead the way, help identify needed interventions and prevent any one group — including carriers and their customers — from bearing the full brunt of the cost to build a more climate resilient society. More in PwC's report 👇 #protectiongap #reinsurance #ILS #catbonds #parametricinsurance"

When it comes to climate transition risk organizations are most concerned about reputation: https://lnkd.in/evABYk8w #climateresilience Airmic (Association for Insurance & Risk)

What steps does climate risk assessment involve and why is climate data key to this process? Join Risto Schmid on the upcoming Commercial Risk webinar to learn how companies can use climate data to estimate exposure and manage climate risk. Register here: ➡ https://lnkd.in/d4qrq5GW Zurich Commercial Insurance #ClimateResilienceZRS #ClimateRisk #ClimateData #ZurichCommercialInsurance

Southern England: This region has seen a marked increase in summer heatwaves, with temperatures reaching highs that strain both infrastructure and ecosystems. Prolonged heat poses risks to health, electricity grids, and water supply, creating pressures that drive up both operational costs and insurance premiums. Explore our blog below to see the other areas impacted in the UK. #climatechange #sustainability #environment

By integrating climate change, businesses can not only reduce risks but also potentially negotiate better terms with insurers. In this blog, we explore why rising insurance premiums are no longer just a financial inconvenience but a direct consequence of the UK’s changing climate. As extreme weather events increase in frequency and intensity, insurers are recalculating risk, and businesses in flood-prone or heat-impacted regions are seeing premiums climb as a result. How can we support you? --------------------------------- We will establish a robust foundation for integrating climate change by assessing and aligning your organisation’s strategy, governance, risk management, and reporting with relevant climate change frameworks. Email help@simplifyclimate.co.uk to schedule a discussion with our consultants. #climatechange #insurance #weather #sustainability https://lnkd.in/eSt8GRVU