The severity and frequency of climate-related events has caused insurers to limit capacity on any one risk or by localised geographical spread. Writing for Insurance Day, Doug Stepenosky, Managing Director and Cathy Cleary, Senior Vice President, of SiriusPoint’s Environmental/Construction Pollution and Professional Division, discuss the implications of climate change risks for the sector.
“Climate change, as we all know, is a worldwide phenomenon. The US has certainly had its fair share with more tornadoes in the Midwest, severe flooding in coastal areas, and wildfires in California, but there have also been terrifying bush fires raging in Australia and devastating floods in Europe. Some governments and business sectors are beginning to take climate change seriously…”
Click here to read the article in full in Insurance Day.