COP21 Paris Agreement: What Does It Mean for the (Re)insurance Sector
On 12 December 2015, at the 21st session of the Conference of Parties (COP21) to the UN Framework Convention on Climate Change (UNFCCC), governments of 195 nations (Parties) reached a landmark international agreement, with binding obligations for all nations, putting the world on a track for long-term cooperation. In an unprecedented development, insurance and reinsurance are explicitly mentioned as a crucial component of risk management strategies. This report examines the most important aspects of the COP21 agreement from the (re)insurance perspective.
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