Press Release: Geneva Association calls for Integrated Approach to Managing Extreme Events and Climate Risks
- Disaster loss events are on the rise. Of those 91% were caused by weather-related extremes (1980-2015). These weather–related extremes caused the loss of more than 600,000 lives and more than USD 3 trillion in total economic losses
- Detailed independent analysis and research shows that countries with a robust penetration of market-based disaster insurance coverage recover faster from the financial impacts of extreme events
- (Re)insurance has become a key element of UN and governmental strategic disaster risk reduction efforts (e.g.
The Nature and Role of Capital in Insurance
Insurance and banking have very different business models. As part of their business, insurers are exposed to different risks and therefore must be treated differently in terms of regulation and reporting. This report examines capital and its role in the insurance business model.