Aug 18 2023 13 mins 4
Trevor Allen, Head of Sustainability Research
Sumati Semavoine-Jain, Sustainability Research Analyst
BNP Paribas London Branch | Global Markets (Recorded 18 August 2023)
- Physical climate risk is rising in intensity and frequency globally.
- (Re)insurance plays the essential role of shock absorber, protecting from a natural disaster’s second-round impacts on economic activity and the wider financial system.
- However, given increasing and more chronic insured losses, the protection gap is rising, leaving parts of the economy and of the world highly vulnerable.
- There is room for (re)insurers, high-risk industries, public sector and regulators to mitigate risk and seize opportunities, we argue.
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