Warming of the oceans and implications for the (re)insurance industry

This document investigates the impact of ocean warming on extreme events and on the insurance industry, suggesting that risk transfer and risk mitigation are essential to avoid market failure. The document is comprised of three sections: (i) section one presents a brief history of ocean warming since the mid-1900s; (ii) section two demonstrates the impact of ocean warming on extreme events, including sea level rise, cyclones, and convective storms; (iii) section three discusses the internal and external impacts on the insurance industry, and encourages the promotion of risk mitigation.