Zurich launches dedicated Climate Change Resilience Services to help businesses tackle climate change risks

Source(s): Zurich Insurance Group Limited
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  • Services address current and future physical risks related to natural hazards and climate change, amid growing customer concern
  • Offering builds on Zurich’s existing natural hazards risk engineering expertise
  • Reaffirms Group's commitment to limit global temperature increase to 1.5°C above pre-industrial levels, as set out by the UN Business Ambition Pledge

Zurich Insurance Group (Zurich) today announced the launch of its Climate Change Resilience Services to help businesses better prepare for current and future risks associated with climate change.

Gabrielle Durisch, Head of Sustainability for Commercial Insurance, said: “We have invested in technology and expertise to provide customers with tailor-made advice and tools that help them strengthen their resilience and prepare for future challenges. The scope of the new offering sets Zurich apart and underscores our commitment to sustainability and a 1.5°C future. As we undertake our own journey to sustainable business practices, we are encouraging and supporting our customers to become more sustainable and mitigate climate change related risks.”

Climate change is consistently rated as one of the top areas of concern for risk managers and business owners in the World Economic Forum’s Global Risks Report. In the 2020 edition, the top five most likely risks to impact businesses in the next decade were all environmental.

The Climate Change Resilience Services address these concerns by providing a wide range of solutions extending far beyond insurance and helping to protect businesses and employees. Customers can tap Zurich’s market-leading risk engineering expertise in the interplay of natural hazards and climate change, and strengthen their resilience through physical and operational measures as well as insurance products.

Customers can map exposure along their value chain, for their global or regional operations, specific sites or even vital pieces of equipment. In addition, Zurich offers mitigation and adaptation solutions for these risks, which could range from weather events such as wildfires, windstorms and floods, to climate effects, including temperature and sea-level rise. It also provides guidance on how to implement sustainability measures at site level, while maintaining the ability to withstand risks.

The expansion of Zurich’s existing natural hazards risk advisory service to include climate change services is part of the Group’s ongoing commitment to provide security through insurance coverage while proactively building resilience together with customers. This includes sharing expertise, limiting the impact of adverse events on operations, and ensuring the safety of employees and businesses.

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