Climate change could collapse insurance markets
Source(s):
Low Carbon Economy, the
According to a new report from the Chartered Insurance Institute, insurance markets could be severely affected by the consequences of climate change.
The report claims that global warming and more extreme weather is already impacting losses of two per cent a year.
One example of helping the industry to influence in both adaptation and mitigation, cited in the report, is to press for the enforcement of mandatory flood-resilient construction in new developments.
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United Kingdom of Great Britain and Northern Ireland