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The growing global cost of natural disasters, including extreme weather events, has prompted the insurance sector to change how it operates.
Rowan Douglas, CEO of global analytics at insurance broker the Willis Group, spoke at a seminar this month (3 April) entitled ‘Agriculture growth, jobs, food security and climate: Taking action in response to IPCC’. He says the industry has undergone a paradigm shift over the past twenty-five years in how it assesses risk.
He is calling for an integrated approach combining science, policy and finance when modelling responses to climate change.