Simplify Climate’s Post

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

Floods, wildfires, rainfall and storms, the climate change consequences we are experience are never ending. How are you as an insurer calculating the risks? ⛈ Insurers that offer relevant value-added services and preventive solutions can reduce the protection gap for the customers but also lower their environmental footprint and improve their profitability. 💡 Initiatives might include working with cities, communities, building societies to build more resilient infrastructure, implement early warning systems, offering education initiatives and support in decision making for policyholders. 🔄 By incorporating sustainable practices, leverage data-driven insights and adopting a systemic risk management, insurers can deliver sustainable and profitable solutions for customers, the society as a whole and themselves. 💬 In a short and concise Point of View we interview: Aurélie FALLON SAINT-LO Global Head of Underwriting from AXA, Nigel Walsh, the Managing Director of Insurance at Google Cloud and Liza Garay- de Vaubernier Global Head of Sustainable Insurance at Capgemini about their views of handling the climate change from an insurance perspective. Please read the full Point-of-View here: https://lnkd.in/dBaBbUFC Do you want to discuss Sustainable Insurance more in person? Don’t hesitate to contact me or some of my colleagues; Helén Jensen I Johan Bergström I Ann Hellenius   #Insurance #underwriting #sustainability

Insurers can not solve the increasing complexity of climate risk alone, however, 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

This year, nearly 1 in 5 businesses have expressed heightened concerns about climate change, according to data from the latest Vero SME Insurance Index. Those businesses aren’t just rural – they’re direct buyers and large businesses too, amongst others. And only 37% of them feel prepared to respond to climate change. In fact, levels of preparedness for climate change impacts are not that high even for the top 3 business premise types that feel most equipped. This raises the question of whether businesses are having proper discussions with their broker on relevant policies, proactive risk management, and mitigation strategies in response to climate change. If you haven’t done so already, have a conversation with a trusted broker as they can guide you through insurance options that address associated risks and help you feel more prepared and equipped to navigate the ever-changing landscape influenced by climate change. #AdviceNotPrice #VeroSMEInsuranceIndex #ClimateChange

Several years of hard work together with the European Commission and our fellow stakeholders have come to fruition with this landmark report on #climateadaptation policy: how to build climate resilience and narrow the climate protection gap

Climate Resilience Dialogue Final Report Released! Over the past three years, the European Commission's Climate Resilience Dialogue, a diverse working group bringing together many stakeholders, has concluded its work and published its Final Report. The group explored solutions to narrow the #Insurance climate protection gap and enhance #ClimateAdaptation across Europe. The Report delves into raising climate risk awareness, improving risk assessments, and implementing risk reduction measures. It also highlights the potential for #PublicPrivatePartnerships (PPPs) and examines insurance-based solutions. The Actuarial Association of Europe is proud of its experts, Jerome Crugnola-Humbert and Loudina Erasmus, who played a key role in this dialogue. Jérôme, AAE's chairperson for #Sustainability and #ClimateRisk, stresses the importance of risk experts in designing innovative solutions for the insurance sector. Read the European Commission's press release here: https://lnkd.in/ednyYr5Y Read the Climate Resilience Dialogue report here: https://lnkd.in/eVQKFBrP #ClimateResilience #ClimateAdaptation

Building climate resilience across urban environments… You can read the inspiring case study on page 12 of the report: ➡️🔗 https://lnkd.in/eFnbaMPs 💙

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

Regardless of the nature, industry, or scale of your enterprise, the potential impact of climate liability can affect you in ways you may not be anticipating. Climate change poses a significant challenge for organizations so we have created a guide to help you: • Understand climate liability and its implications for businesses, governments, and individuals. • Learn how to identify and assess climate-related risks. • Read about real-world examples of organizations that have successfully managed climate risks and liability. https://lnkd.in/etE_y7nc #Sustainability #ClimateChange #RiskManagement #Insurance #Strategy #Business

Climate change is here, and the question is how we can lessen the impacts. We surveyed 5,000 residents across 10 cities and consulted experts on the biggest risks and ways to build resilience. See our infographic to learn more. https://lnkd.in/eNhUynCD Supported by Zurich Insurance #resilientcities