The Impact of Climate Change on the Insurance Industry
Climate change, that started as a scientific theory and became the the subject of environmental policy and international negotiation refers to the long-term changes in the Earth's climate. Climate change poses some major economic risks due to changing weather patterns, extreme weather events, and rising sea levels. According to the Intergovernmental Panel on Climate Change (IPCC), in addition to mitigation efforts, taking steps to adapt to the effects of climate change is also necessary and can greatly reduce negative impacts.