The financial crisis has transformed the risk landscape for insurers and their focus on key risks. A recently published survey conducted by the Center for the Study of Financial Innovation in association with PriceWaterhouseCoopers indicates that climate change is “[l]osing its urgency as an insurance risk.”
Read MoreA group of European insurers and reinsurers, including Allianz, AXA, Munich Re, Swiss Re and Zurich, have established PERILS AG, based in Zurich, to collect and provide industry-wide European catastrophe insurance data. PERILS is intended to provide a service similar to that provided by Property Claims Services (PCS) in relation to US catastrophes.
Read MoreOn Thursday, August 28, Edwards Angell Palmer & Dodge’s Insurance and Reinsurance Department will host a webinar entitled “Insurance Implications of Climate Change”. This 60 minute webinar will comprise a discussion of the global legal framework which recognizes the reality of climate change.
Read MoreA white paper examining the potential impact of climate change on the insurance industry has recently been approved by the National Association of Insurance Commissioners’ (“NAIC”) Climate Change and Global Warming Task Force (the “Task Force”). The white paper is intended to begin a process of encouraging, or even requiring, insurers to address climate change risk in order to protect consumer and insurer solvency.
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