Geneva Association calls on governments to act on disaster risks

The Association pointed out that the world’s governments must “recognize the urgency of the implications of the IPCC report and take action to adapt to the changing environment. As well as more disaster conscious investment in future, government investment is also needed in measures to reduce disaster impacts and retro-manage risks in communities to stem the increasing human and economic costs.”

According to the Insurance Journal, the report also notes that the insurance industry “can support governments in a number of ways. Before a disaster occurs, insurance can send a clear signal about the cost of taking a particular risk– building on flood plains for example. It can also advise governments on resilient behavior and the legislative environment that promotes risk adequate behavior through, for example, adjusting building codes to make buildings more resilient to earthquakes or flooding.