05/10/2012
Climate change: insurers have a role to play
The reality of climate change has become a profound conviction for the majority of the population, which also estimates that the insurance sector has a role to play in fighting this development. According to a study undertaken by the AXA group with Ipsos in 13 countries worldwide, 61% of respondents estimate that insurers are responsible for limiting climate change risks. This figure is as high as 78% in Hong Kong, 69% in Turkey, and 65% in Italy. The study finds that 57% of respondents also feel that insurance companies can help people to adapt to the consequences of climate change. This opinion is most widespread in countries which are most concerned: 75% of Turkish respondents hold this opinion, as do 71% of Mexicans and 67% of Indonesians. For respondents, this responsibility is related to several actions tied to the core profession of insurers: offering new insurance products, inciting behaviour which is more respectful of the environment, and to initiate partnerships in collaboration with local and national authorities. AXA Has also published a report on climate change risks, which lays out knowledge of these risks and their probable evolution. It also presents tools available to insurers to evaluate these risks and the role that the insurance sector can play in bringing about responses to these challenges. This is the fourth report from AXA, following reports on Longevity, Retirement and Dependency. The documents are part of an initiative by the group to share its expertise on major developments in our society.
