A stable and efficient insurance sector provides a vital underpinning to society and to economic gro...
A stable and efficient insurance sector provides a vital underpinning to society and to economic growth. It enables individuals and businesses to take economically beneficial decisions that they would otherwise refrain from taking because of the fear of extreme financial losses arising from relatively low-probability events. Essential to the business model of insurance is the ability to measure and assess risk. If climate change results in changes to patterns of risk, then insurers who fail to spot and adjust to those changes may find that they have mispriced policies or have insufficient ...
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