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Six areas of Climate change to consider

Economic Implications of Climate change for insurers to consider

Pre-pandemic, climate change was gaining momentum but put on pause for 2020. Here are six areas of climate change implications to consider – if you haven’t already.

As the path to pandemic’s end clears up, with a better understanding of both the effectiveness and the availability of vaccines, climate change is likely to be back on Board’s agendas.

In the summer of 2019, Moody’s Analytics published a very interesting report on the Economic Implications of Climate Change.

Although there is little talk about insurance in that paper, it is easy to map the six areas explored by Moody’s Analytics to different insurance lines of businesses:

  • Sea Level: Motor / Property / Aviation / Marine
  • Human Health: well … health …
  • Labour Productivity: Protection & Indemnity (P&I)
  • Tourism: Travel
  • Energy: Specialist insurance (Nuclear, Solar, Wind etc.)
  • Farming: – Agro

If you are starting to think about incorporating climate change in your business operations or looking for support to augment your existing processes … drop us a line at hello@covianalytics.com to see how CoVi Analytics can help.

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