Tag: Thabiso Rulashe
Climate risk and insurance – adapting to extreme weather
Over the last couple of years, climate-related disasters have increased in both frequency and intensity. These disasters have accelerated rapidly, creating a physical and socioeconomic divide in risk exposure and protection.
Severe weather trends widen insurance protection gap
Climate change-induced extreme weather events have remained elevated across the globe in the last decade, proving disruptive to both economic and social activities. According to the global reinsurance broker, Aon, the 2023 economic losses due to natural catastrophes was 22% above the 21% century average – raising questions about the long-term affordability and sustainability of cover for vulnerable communities.
ESG in the insurance industry is in its infancy
The insurance industry is still in its infancy when it comes to most environmental, social and governance (ESG) concerns. While there’s much work to be done, I believe the two are a marriage made to last for insurance to meet its mandate to make a meaningful contribution in people’s lives.
