Michael Hawker () (Insurance Australia Group Limited (IAG), Level 25, 388 George Street, Sydney, NSW 2000, Australia.)
Abstract
Weather and climate are “core business” for the insurance industry. Many extreme weather events such as cyclones, hailstorms, bushfires and floods are projected to increase in either intensity or frequency under climate change. A changing, less predictable climate has the potential to reduce the insurance industry's capacity to calculate, price and spread this weather-related risk. However, it is important to understand the long term opportunities as well as risks associated with climate change. IAG is committed to undertaking further research to increase the scientific understanding of the impacts of climate change, to identify ways to reduce the impact that climate change is expected to have on society and to identify insurance-based incentives for a reduction in future greenhouse gas emissions. Climate change presents a strong case for the need for business, governments and community groups to work together to find sustainable solutions to this critical challenge. The Geneva Papers (2007) 32, 22–28. doi:10.1057/palgrave.gpp.2510112
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
file. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.