Predicted disasters from climate change may make or break the industry

Insurance Industry Climate change

Climate change is often a controversial and uncomfortable subject, but this is not necessarily the case in the insurance industry. For years, insurance companies have been pressuring governments to take more action on the climate change problem, citing scientific studies and their own actuarial analysis regarding the future impact of the phenomenon. In the U.S., some insurance companies have gone so far as to file lawsuits against states that have not done enough to mitigate the risks of natural disasters. Insurance and climate change have become intertwined over the past…

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Insurance industry in the Philippines shows promising growth

Philippines Insurance Industry

First quarter provides momentum to insurance industry The global insurance industry has shown some promise during the beginning of 2013. The industry, as a whole, has been struggling to overcome the challenges it faced over the past few years, many of which came at the hands of unexpectedly powerful natural disasters. In the Philippines, new reports from Emmanuel F. Dooc, Insurance Commissioner of the Philippines, suggest that the first quarter of 2013 was very beneficial for the country’s insurance industry. Commissioner Dooc provided his report to a recent United Nations…

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United Nations report stresses the need for action on climate change

Climate change may be a controversial issue in the world of politics, but the insurance industry is betting on dramatic weather becoming a reality in the near future. The belief of the global insurance industry is shared by the United Nations. The UN’s Intergovernmental Panel on Climate Change has released a report concerning climate-related disasters, indicating that all nations will be susceptible to extreme weather. The report is aimed at politicians around the world, stressing the necessity of preparing for future disasters wrought by climate change. The United Nations claims…

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