Date: October 10, 2002
Source: News Room
The global insurance industry faces losses of up to $150 billion over the next ten years from damages associated with natural disasters, which are likely to increase in frequency and severity because of global climate change, according to a recent report jointly released by the U.N. Environnement Program and 295 insurance and investment companies. The report, titled Climate Change and the Financial Services Industry, concluded that losses as a result of natural disasters appear to be doubling every decade and have totaled $1 trillion over the past 15 years.
The report is available at: www.unepfi.net.
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