Climate Change: What does the future hold for health and life insurance?
- English
Time
14:30-15:30 CET
About
2023 was the warmest year on record. Between April and July, many parts of North America, Southern Europe and Asia experienced extreme heat. In Canada, wildfires consumed over 120,000 km2 of forests, resulting in a historic release of 290 megatons of carbon and ‘code red’ and above air quality alerts in several U.S. states. With over 40% of the global population living in climate-vulnerable locations, an unfettered escalation of current shocks and patterns will have significant ramifications for both health and its social determinants.
While the short-term consequences for health and life (H&L) insurers have so far been modest, the increasing frequency and severity of climate events mean that this may well change in the longer term. Quantifying H&L insurers’ climate-related risk exposure comes with many challenges. A recent Geneva Association report sheds light on the outlook for H&L insurance, assesses the consequences for insurability and outlines the steps needed to preserve insurability in the future.
Join us for a discussion of the report’s key findings and to hear senior industry, academic and research experts share their perspectives.