World’s Climate Risk Capital – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

Log In

Reset Password
BERMUDA | RSS PODCAST

World's Climate Risk Capital

For decades, Bermuda's unique re/insurance market has played a lead role in protecting the world against the devastating impact of catastrophic events. Time and again, the market has delivered to consumers whose lives have been upended. Bermuda re/insurers have paid out more than quarter of a trillion dollars over the past 20 years in claims arising from disasters both natural and man-made — and that's in the United States and European Union alone.

With the effects of climate change creating the potential for unprecedented catastrophe losses in the coming years, Bermuda's role has never been more globally relevant. The island's rich pedigree in natural catastrophe re/insurance and deep expertise in the science of catastrophe risk management makes it an ideal champion in the efforts to increase insurance coverage in disaster-prone developing countries that often lack it.

Bermuda's re/insurance market is heavily involved in the public-private sector collaboration to close the “protection gap”, in finding ways to optimise and extend the use of insurance and risk management capabilities to build greater resilience and protection for people, communities, businesses, and public institutions. This report represents the work of both ABIR and The Insurance Development Forum.

Follow how Bermuda is becoming the World's Climate Risk Capital.

For more information contact us at https://business.abir.bm/contactus

You must be registered or signed-in to post comment or to vote.

Published June 23, 2020 at 2:17 pm (Updated June 23, 2020 at 2:17 pm)

World's Climate Risk Capital

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon