Climate change – an opportunity as well as a risk for (re)insurance

In this IIL London Market webinar, Richard Dudley talks about the impact of climate change on the (re)insurance industry; there is plenty of focus on the risks it poses - from natural hazard exposure in particular - but in this session, Richard highlights the significant thematic opportunities it also represents.

Climate change is a key focus of governments, boardrooms, investors, regulators, the humanitarian and non-governmental organisation sectors, and most of the population around the world. The media is full of regular stories of chronic or acute weather and its impact on communities and businesses. Governments are wrestling with the need to take action to fulfil their Nationally Defined Contributions (NDCs) under the Paris Agreement aimed at limiting temperature changes globally with their need to satisfy short-term energy and food security, and economic challenges impacting the populations they serve.

Amidst all this uncertainty, what growth opportunities exist for the (re)insurance industry? The risks posed by the changing climate are becoming clear, but how should we maintain focus on the growth opportunities that also exist? The world economy is adapting to both the mitigation of and adaptation to, climate change impacts. How should we consider maintaining our relevance as an industry to these changes? In this session, the speaker takes us through his perspective highlighting these growth opportunities, using case studies where appropriate. He also highlights where our industry needs to amend its approach to truly grasp these opportunities.

Learning objectives:

• How the (re)insurance industry is responding to climate change
• How to frame the opportunities for our industry arising from climate change
• What the industry needs to do differently to be truly relevant as the global economy goes through transformation

Chair: Geraldine Wright, Company Secretary, LIIBA

You will be sent a confirmation email shortly after booking. If you have not received this within one hour, please contact Patricia Pedraza (020 7397 3911).

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