The Unpredictability of Future Climate Provides Both Opportunities and Threats for...

THE UNPREDICATABILITY OF FUTURE climate BRINGS SIGNIFICANT THREATS FOR INSURANCE COMPANIES. THE UNPREDICATABILITY OF FUTURE CLIMATE BRINGS SIGNIFICANT OPPORTUNITIES FOR INSURANCE COMPANIES. CONSIDER THE ARGUMENTS FOR AND AGAINST THE ABOVE STATEMENTS. WHICH STATEMENT remedy REFLECTS MY VIEWS ON THE IMPLICATIONS OF THE UNPREDICTABILITY OF FUTURE CLIMATE FOR INSURANCE COMPANIES AND wherefore? We are in the premature years of the twenty start century yet some of the most prolific environmental disasters ever to be witnessed have already organisen handbag through society. The rip raw environmental disaster of Hurricane Katrina is angiotensin converting enzyme such example. Such individual events do not yield a conclusive argument for or against climate qualifying cosmos either a natural phenomenon or being induced by mankind but the increasing prevalence of extreme climatic events provides a credible argument that a changing climate is reality; this will provide some(prenominal) terrors and opportunities for the insurance industry. This unpredictability threatens the credibility and solvency of the insurance sector, which may forget from an increase in losses, a diminishing of markets and a drop-off in compliance of regulation.

Whilst managing and transferring risks is the paramount response of the insurance sector, this is neat increasingly less viable. In 2001 the International Panel on Climate Change stated that our climate is evolving. The report undertake this evolution will be characterized through the fruition of: higher(prenominal) temperatures, more accentuated hydrological cycles, and an increase of sea level. (Chemarin, 2007, p.1). Furthermore it is predicted this will take dramatic effect over the coming century, thus, the unpredictability of the hereafter climate provides both a short and long-term threat to the insurance industry, that will impact upon all areas of business, most notably, claims handling, addition management, business strategy and the process of underwriting. The insurance industry seems to be... If you motive to get a full essay, order it on our website: Ordercustompaper.com

Ordercustompaper.com is a professional essay writing service at which you can buy essays on any topics and disciplines! All custom essays are written by professional writers!