Picture used for illustrative purposes only.
Insured losses from natural catastrophes have increased 250% in the last 30 years, with perils such as wildfires and storms, seen as particularly impacted by climate change, causing an even faster rise in insured losses, the report said.
Insurers’ main catastrophe risk in the past was typically from hurricanes in US states such as Florida and Texas, Seth Rachlin, global insurance industry leader at Capgemini, told the media.
UN chief calls for inclusive government after Lebanon vote
Ukrainian troops evacuate from Mariupol ceding control to Russia
"We've seen with the flooding in Europe and wildfires in Australia, wildfires in California, it's becoming a broader geographic issue, affecting a broader percentage of the earth."
Germany and other parts of Europe were hit by flooding in July 2021, while heavy rains deluged Australia's east coast earlier this year.
Seth Rachlin poses for a photograph. Photo courtesy : Capgemini
European insurers are leading the way in embedding environmental, social and governance issues in insurance underwriting and investment and in focusing on risk prevention, Rachlin said.
More than 30% of insurers globally restrict investment in unsustainable companies, and more than 20% restrict insurance cover to unsustainable companies, the report said.
Seventy-four per cent of the insurers interviewed felt that climate change made it hard to insure some areas.
Regions such as California have seen insurers pull out due the number and severity of wildfires.
Seventy-one percent of insurance customers said the offer of discounts would make them highly likely to cut the exposure of their property or other assets to natural catastrophe risk.
More than 4,900 insurance customers were polled in 16 countries in Jan and Feb 2022 for the report. The report was also based on interviews with more than 270 senior insurance executives in 27 markets.
The phenomena had nothing to do with low pollution levels due to COVID-19 related lockdowns around the world, confirmed scientists at Copernicus Atmosphere Monitoring Service.
As the social media-savvy teenager approached New York Harbour before dawn, she tweeted her excitement, saying: "Land!! The lights of Long Island and New York City ahead." The vessel then anchored off Coney Island, so those aboard could go through customs and immigration procedures.
Iceland on Sunday honours the passing of Okjokull, its first glacier lost to climate change, as scientists warn that some 400 others on the subarctic island risk the same fate.
The pilot and a 14-year-old passenger were seriously injured and remain in hospital in a serious condition.
If the beggar is not physically disabled, or if he/she has an apparent source of living, or if the beggar had fabricated being injured with wounds or permanent disabilities.
On the occasion of World Tuberculosis Day, observed on March 24 each year, MoHAP stated that the global day is being marked under the theme, “Yes! We can end TB!”
Gandhi, who represented a constituency in southern Kerala state as a member of the Congress party, was disqualified from his membership in the lower house of Parliament from March 23, the date of his conviction, the statement said.