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FOR IMMEDIATE RELEASE
OLDWICK - SEPTEMBER 23, 2019 03:22 PM (EDT)
In this AMBestTV episode from the recently held Les Rendez-Vous de Septembre (Rendez-Vous) conference in Monte Carlo, Monaco, reinsurance executives said investors, regulators, governments and other stakeholders increasingly want insight into climate-change risks. Click on http://www.ambest.com/v.asp?v=rvs5919 to view the entire program.
Climate change proved to be one of the bigger issues at this year’s conference.
“I think that one of the big challenges for the insurance industry is how to adapt to pressures from regulators, stakeholders, consumers and investors on issues related to climate change,” said Carlos Wong-Fupuy, senior director, AM Best. “Additionally, companies that may be highly exposed to investments on the underwriting side with extensive carbon-related assets, at some point given this pressure from regulators or other stakeholders, will have to divest from them.”
Franz Hahn, chief executive officer, Peak Re, believes the industry needs to engage in less talk and more action.
“There is not enough being done. The industry needs to engage with governments and universities, since it is a matter of public and private discussions. Everyone is talking about it, but we need to find more solutions,” he said.
Other people that appear in this episode:
For full video coverage of the Rendez-Vous conference, including exclusive executive interviews, visit http://www.ambest.tv/rvs19 .
Recent AMBestTV episodes include:
AM BestTV covers exclusive AM Best and insurance industry information and reports, targeted topics and key developments in the insurance, reinsurance and related sectors daily. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html . View AM BestTV episodes at http://www.ambest.tv .
AM Best is a global credit rating agency and information provider with an exclusive focus on the insurance industry.