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Climate change altering insurers' risk assessment

2013-06-24 12:16:00| Climate Ark Climate Change & Global Warming Newsfeed

Agence France-Presse: Climate change is creating more frequent and more unpredictable extreme weather events, forcing insurers to change how they assess the risk of natural disasters hitting a specific area, the Geneva Association think tank said Monday. "Traditional approaches, which are solely based on analysing historical data, increasingly fail to estimate today's hazard probabilities," the think tank for strategically important insurance and risk management issues, warned in a report. "A paradigm shift from...

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