The Seattle Timesquoted Mike McGavick, CEO of XL Group, as saying: “The job of anticipating and modelling risks is in the wheelhouse of the insurance industry, and risk modelling is a gateway to resilience.”
Joe Casola, Deputy Director of the Climate Impacts Group at the University of Washington, in theSeattle Times states, “climate change offers up a new challenge for insurers, altering the risk landscape that we have experienced in the past.”
Climate change can increase the risk of some weather-related problems. For example, warmer temperatures can raise the potential for health-related illnesses; or how drier, hotter summers can lead to more severe wildfires.
Click here to read full article. Source: Insurance Business Australia