Climate Change And The Insurance Industry

Author : Kiran Sood,Simon Grima,Peter C. Young,Ercan Ozen,Balamurugan Balusamy
Publisher : John Wiley & Sons
Page : 500 pages
File Size : 55,9 Mb
Release : 2023-08-22
Category : Business & Economics
ISBN : 9781394166510

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The Impact of Climate Change and Sustainability Standards on the Insurance Market by Kiran Sood,Simon Grima,Peter C. Young,Ercan Ozen,Balamurugan Balusamy Pdf

The Impact of CLIMATE CHANGE and SUSTAINABILITY STANDARDS on the INSURANCE MARKET The book explores the role of the insurance industry in contributing and responding to the harms that climate change has brought. This book delves into the physical and logical impacts, both direct and indirect, on the insurance industry. Subjects discussed include new technology such as big data, artificial intelligence, machine learning, the growth of sustainable economics with foreign direct investments (FDIs), trustworthiness, and ethics. Related use cases of data science for claim processing, fraud detection and prevention, policy administration, pricing, and underwriting are discussed along with cyber security issues, data protection, and big data regulatory reforms. To promote ESG sustainability, the insurance industry plays a critical and significant role. Climate-related risks are being factored into underwriting and investing strategies. Through their own operations and business activities, insurers may promote the ESG agenda and move towards sustainability. Also discussed are promoting diversity and inclusion, lowering greenhouse gas (GHG) emissions, resolving gender inequality, and helping communities through charitable work, which all improve a company’s brand, reputation, and ESG credentials. Audience The book is specially designed for administrators, lecturers, researchers, students of insurance and sustainability, students in financial services, insurance practitioners, actuaries, loss adjusters, underwriters, regulators, facilities management, utility companies, voluntary organizations, government departments, business leaders, policymakers, decision-makers, investors, risk managers, compliance managers, and audit managers amongst many others.

Author : Franziska Arnold-Dwyer
Publisher : Unknown
Page : 0 pages
File Size : 54,5 Mb
Release : 2024
Category : Climate change insurance
ISBN : 1032333065

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Insurance, Climate Change, and the Law by Franziska Arnold-Dwyer Pdf

"The insurance industry has found itself at the front line of climate change challenges, providing insurance cover in relation to risks associated with climate change. As risk carriers, insurers pay claims for climate change related losses - such as property damage caused by windstorms, flooding, and wildfires - which have been increasing in frequency and severity. As major institutional investors, insurance companies invest in assets that may be increasingly vulnerable to climate risks. Insurance regulators across the globe have therefore started to require insurance companies to identify, manage and report on climate change risks that could pose a threat to their financial stability. However, managing and reporting on the effect of climate risk on an insurer's balance sheet is an inward-looking perspective that does not stem climate change. It needs to be paired with an outward-looking perspective that takes account of the insurance industry's impact on the environment, and the insurance industry's capacity to influence what policyholders, investee enterprises and other business partners do to address climate change challenges. For the insurance industry, the key components of positive outward impact are "impact underwriting" and "impact investment". This book sets out the current legal and regulatory landscape for impact underwriting and impact investment. Whilst the focus of research and regulatory interventions to date has been on inward impact, in this book it will be argued that, to take positive climate action that supports the Paris Agreement goals and the national and international Net Zero targets, the debate should now move on to considering the positive outward impact the insurance industry can make, and how we can create a legal environment to facilitate this. The book puts forward the case for a new vision of the role of the insurance industry as climate action enablers and makes proposals for insurance products and risk transfer and loss resilience structures that can support policyholders in their transition to a Net Zero economy. The audience for this book will include legal practitioners, insurance industry professionals, financial and insurance regulators, policymakers and interested academics"--

Author : David Crichton
Publisher : Unknown
Page : 90 pages
File Size : 55,5 Mb
Release : 2001
Category : Climatic changes
ISBN : PSU:000048778176

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The Implications of Climate Change for the Insurance Industry by David Crichton Pdf

Author : Joel N. Gordes
Publisher : Unknown
Page : 94 pages
File Size : 51,6 Mb
Release : 1996
Category : Casualty insurance
ISBN : PSU:000025706086

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Climate Change and the Insurance Industry by Joel N. Gordes Pdf

Author : TERI Project Team
Publisher : The Energy and Resources Institute (TERI)
Page : 86 pages
File Size : 46,6 Mb
Release : 2006-01-01
Category : Science
ISBN : 8179930947

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The Indian Insurance Industry and Climate Change by TERI Project Team Pdf

Author : Cameron Holley,Liam Phelan,Clifford Shearing
Publisher : Routledge
Page : 209 pages
File Size : 48,7 Mb
Release : 2020-12-29
Category : Business & Economics
ISBN : 9780429574955

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Criminology and Climate by Cameron Holley,Liam Phelan,Clifford Shearing Pdf

This book explores the role of the insurance industry in contributing to, and responding to, the harms that climate change has brought and will bring either directly or indirectly. The Anthropocene signifies a new role for humankind: we are the only species that has become a driving force in the planetary system. What might criminology be in the Anthropocene? What does the Anthropocene suggest for future theory and practice of criminology? Criminology and Climate, as part of Routledge’s Criminology at the Edge Series, seeks to contribute to this research agenda by exploring differing vantage points relevant to thinking within criminology. Contemporary societies are presented with myriad intersecting and interacting climate-related harms at multiple scales. Criminology and Climate brings attention to the finance sector, with a particular focus on the insurance industry as one of its most significant components, in both generating and responding to new climate ‘harmscapes’. Bringing together thought leaders from a variety of disciplines, this book considers what finance and insurance have done and might still do, as ‘fulcrum institutions’, to contribute to the realisation of safe and just planetary spaces. An accessible and compelling read, this book will appeal to students and scholars of criminology, sociology, law and environmental studies and provides readers with a basis to analyse the challenges and opportunities for the finance sector, and in particular the insurance industry, in the regulation of climate harms.

Author : Janardhana Anjanappa
Publisher : Eliva Press
Page : 0 pages
File Size : 52,7 Mb
Release : 2023-06-22
Category : Electronic
ISBN : 9994988247

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Climate Change and the Insurance Industry in India by Janardhana Anjanappa Pdf

This study aims to assess the potential role of insurance in alleviating climate change risks in India. It does this by exploring the unique challenges and opportunities that the Indian insurance industry faces in integrating climate risk insurance into its risk management strategies. The study also examines the comprehensive research on the Indian insurance industry's response to climate change and try to combines insights from fields such as economics, finance, environmental science, and policy. The study finds that the Indian insurance industry is facing a number of challenges in addressing climate change risks. These include affordability and availability of coverage, the growing financial burden on insurance companies, limited historical data, uncertainty in risk assessment, long-term liabilities, and the potential for moral hazard. However, the study also finds that there are a number of opportunities for the insurance industry to address these challenges and contribute to climate change resilience. These include collaboration and knowledge sharing between insurers, policymakers, scientists, and other stakeholders, the development of innovative insurance and risk management products, education and awareness initiatives, and investments in renewable energy and low-carbon technologies. Overall, the study finds that the challenges posed by climate change in the insurance industry require proactive and collaborative approaches. By embracing these opportunities and developing innovative solutions, insurers can contribute to building resilience, reducing risks, and promoting a sustainable response to climate change.

Author : Christina M. Carroll
Publisher : American Bar Association
Page : 0 pages
File Size : 45,7 Mb
Release : 2012
Category : Climate change insurance
ISBN : 1614387338

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Climate Change and Insurance by Christina M. Carroll Pdf

Climate change has become a significant issue in scientific, political, and legal circles, and this may have profound implications for the insurance industry. More frequent catastrophic events such as floods, droughts, fires, hurricanes, and the like, whether or not attributable to climate change, challenge the insurance industry's abilities to measure and predict risk.

Author : John B. Stephenson
Publisher : DIANE Publishing
Page : 74 pages
File Size : 43,9 Mb
Release : 2007-08
Category : Electronic
ISBN : 1422315592

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Climate Change by John B. Stephenson Pdf

Weather-related events have cost the nation billions of dollars in damages over the past decade. Many of these losses are borne by private insurers & by two federal insurance programs -- the National Flood Insurance Program, which insures properties against flooding, & the Federal Crop Insurance Corp., which insures crops against drought or other weather disasters. The author was asked to: (1) describe how climate change may affect future weather-related losses; (2) determine past insured weather-related losses; & (3) determine what major private insurers & federal insurers are doing to prepare for potential increases in such losses. Includes recommendations. Charts & tables.

Author : W. J. Wouter Botzen
Publisher : Cambridge University Press
Page : 453 pages
File Size : 44,6 Mb
Release : 2013-03-28
Category : Business & Economics
ISBN : 9781107355491

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Managing Extreme Climate Change Risks through Insurance by W. J. Wouter Botzen Pdf

In recent years, the damage caused by natural disasters has increased worldwide; this trend will only continue with the impact of climate change. Despite this, the role for the most common mechanism for managing risk - insurance - has received little attention. This book considers the contribution that insurance arrangements can make to society's management of the risks of natural hazards in a changing climate. It also looks at the potential impacts of climate change on the insurance sector, and insurers' responses to climate change. The author combines theory with evidence from the rich experiences of the Netherlands together with examples from around the world. He recognises the role of the individual in preparing for disasters, as well as the difficulties individuals have in understanding and dealing with infrequent risks. Written in plain language, this book will appeal to researchers and policy-makers alike.

Author : Reinhard Mechler,Laurens M. Bouwer,Thomas Schinko,Swenja Surminski,JoAnne Linnerooth-Bayer
Publisher : Springer
Page : 557 pages
File Size : 45,7 Mb
Release : 2018-11-28
Category : Science
ISBN : 9783319720265

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Loss and Damage from Climate Change by Reinhard Mechler,Laurens M. Bouwer,Thomas Schinko,Swenja Surminski,JoAnne Linnerooth-Bayer Pdf

This book provides an authoritative insight on the Loss and Damage discourse by highlighting state-of-the-art research and policy linked to this discourse and articulating its multiple concepts, principles and methods. Written by leading researchers and practitioners, it identifies practical and evidence-based policy options to inform the discourse and climate negotiations. With climate-related risks on the rise and impacts being felt around the globe has come the recognition that climate mitigation and adaptation may not be enough to manage the effects from anthropogenic climate change. This recognition led to the creation of the Warsaw International Mechanism on Loss and Damage in 2013, a climate policy mechanism dedicated to dealing with climate-related effects in highly vulnerable countries that face severe constraints and limits to adaptation. Endorsed in 2015 by the Paris Agreement and effectively considered a third pillar of international climate policy, debate and research on Loss and Damage continues to gain enormous traction. Yet, concepts, methods and tools as well as directions for policy and implementation have remained contested and vague. Suitable for researchers, policy-advisors, practitioners and the interested public, the book furthermore: • discusses the political, legal, economic and institutional dimensions of the issue• highlights normative questions central to the discourse • provides a focus on climate risks and climate risk management. • presents salient case studies from around the world.

Author : Eugene N. Gurenko
Publisher : Routledge
Page : 97 pages
File Size : 44,5 Mb
Release : 2015-02-13
Category : Business & Economics
ISBN : 9781136535444

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Climate Change and Insurance by Eugene N. Gurenko Pdf

Climate change brings about a new set of major economic risks arising from changing weather patterns, extreme weather events and rising sea levels. Most at risk are developing countries who, despite considerable post-disaster donor aid, have been bearing the major brunt of disaster-related losses. One adaptation solution that is rapidly gaining the support of countries and international donors is a risk transfer to the global reinsurance and capital markets. This volume, a special issue of the journal Climate Policy, explores the role that insurance-based mechanisms can play in helping developing countries prepare for climate change. It offers a unique and comprehensive perspective on the potential role of insurance solutions in global adaptation to climate change and attempts to engender debate on the role of insurance in reducing global emissions and encouraging climate-friendly corporate behaviour.

Author : Marco Migliorelli,Philippe Dessertine
Publisher : Springer Nature
Page : 143 pages
File Size : 48,7 Mb
Release : 2020-09-17
Category : Business & Economics
ISBN : 9783030545307

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Sustainability and Financial Risks by Marco Migliorelli,Philippe Dessertine Pdf

Despite growing discussions on the relationship between sustainability and finance, so far little attention has been given to the relation linking sustainability-related risks and financial risks. Climate change, environmental degradation and social inequality, among others factors, may indeed have considerable adverse impacts on financial actors and markets, and even have the potential to harm financial stability. Shedding light on the importance of the nexus between sustainability and financial risks, this book addresses the need for new industry and policy approaches. With insights from a skilled set of scholars in the finance field, this edited collection explores the effects of climate risks on the banking and insurance industries, the problem of stranded assets, the possible corporate risk management frameworks that could be used to control sustainability-related risks, the role of non-financial disclosure in fostering market discipline, and the policy actions needed to integrate sustainability considerations into prudential supervision. Tackling an interdisciplinary topic, this book will appeal to academics and practitioners within the finance, business and sustainability fields.

Author : Thomas R. Karl,Neville Nicholls,Anver Ghazi
Publisher : Springer Science & Business Media
Page : 349 pages
File Size : 40,6 Mb
Release : 2013-03-09
Category : Science
ISBN : 9789401592659

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Weather and Climate Extremes by Thomas R. Karl,Neville Nicholls,Anver Ghazi Pdf

Are extreme weather events becoming more common? How do extreme weather events impact society? These are critical questions that must be examined as we confront the possibility that the world will experience a change in climate over the next century. Much of the research in climatology over the past decade has focused on potential changes in long- term averages of temperature, precipitation and other factors. However, it is becoming increasingly clear that changes in average values will be accompanied by changes in extreme events. Furthermore, extreme weather events will impact society to a greater extent as people around the world continue to locate in more hazard-prone areas such as coastal zones. This book represents a major step forwards in developing a comprehensive set of information about changes in extreme events by providing a review of the problems in data availability, quality and analysis that make deriving a clear picture of world-wide changes in extreme events so difficult. Audience: The book is intended for policy-makers, professionals, graduate students and others interested in learning how extreme weather events have changed, and how they impact society both now and in the future.

Author : Cornel Quinto
Publisher : Springer Science & Business Media
Page : 178 pages
File Size : 49,9 Mb
Release : 2011-10-22
Category : Law
ISBN : 9783642224355

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Insurance Systems in Times of Climate Change by Cornel Quinto Pdf

Natural disasters such as large-scale flooding are on the increase. Climate change directly affects our basis of existence. This includes residential buildings, and commercial and industrial properties. The author highlights the requirements that will have to be met by a protection system for buildings in the future. Insurance against natural hazards lies at the heart of such a system. The insurance systems of Germany, France, Spain, Switzerland and the USA are presented. The author explains what type of insurance system is best suited to meet the challenge of climate change. The starting point of the legal section is statutory insurance with a monopoly. The question of whether such insurance is compatible with Swiss and EU law is examined. Keywords in this respect are economic freedom, competition, services of general interest and universal service.