With climate change creating new risks and societal needs, financial services organisations must ensure their services are adapting to the shifting landscape.
At the time of publication, countries throughout the world are coping with the health crisis caused by COVID-19 along with its wide-ranging societal and economic impact. There still are a lot of unknowns, but one thing is clear — the virus will have profound and lasting implications for all of our lives as well as every business and industry.
In the insurance space, cover is well-established for damage to physical assets — but do climate risks mean that new hybrid products are needed or that organisations outside of insurance need to have deeper understanding of their exposure to weather events to adapt?
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