Climate change 'biggest challenge of our time' for insurers

London Stock Exchange: Climate change will present insurers with the "biggest challenge in our time", a new thinkpiece from the Chartered Insurance Institute (CII) has said. The piece, which acts as a preview for the CII's Coping With Climate Change: Risks and Opportunities for Insurers report due on February 23rd, warns of a "clear and pressing need" for the industry to assess and effectively manage the issues raised by increasingly volatile weather patterns.

It adds that Europe is likely to face increased droughts and heat waves over the coming years, with the number of days when temperatures reach at least 25 degrees Celsius in London expected to double by the 2020s. By the 2050s, the capital could be facing between three and five times as many hot days as it does now….

Danger! Crevasses, in Les Deux Alpes (Isère département, France). Shot by Willtron, Wikimedia Commons, under the Creative Commons Attribution ShareAlike 3.0 License