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Climate change is altering weather patterns and causing an increase in the intensity and frequency of adverse weather conditions. With this, insurers are required to reflect on their risk appetite and models and determine how to underwrite the additional risks that climate change brings to the covers they provide.
Risk is our business. As insurers and reinsurers, it is our ability to measure it, manage it, absorb it and transfer it that makes our business valuable to society, and to our shareholders.
We are all generally aware of the raft of legislative and regulatory changes coming at the insurance industry.
The strongest deterrent against FSP compliance missteps is or should be: