Climate change is an underwriter’s worst nightmare

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Good article here from The Royal Gazette (Bermuda) discussing comments made at the International Reinsurance Summit the other day.

Andre Logan of Ceres is quoted a fair bit and makes two relevant points; he says “insurers could also benefit by producing new products to address climate change risk.” And goes on to quote Warren Buffett, as having said in 2006: “We’d be out of our minds if we wrote weather insurance with the notion that global warming would have no impact at all.”

Should reinsurers and risk professionals be taking the lead here to create a robust method for hedging against future climate change related liabilities?

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