European insurers want more cooperation in order to put climate change on the map. They join the cry of Mark Carney, head of the Bank of England to do more against global warming.
A temperature increase of more than two degrees can lead to a lack of affordable insurance, says Carmen Bell, insurance advisor at Insurance Europe told Reuters.
Carney warned yesterday in a speech to the financial 'diverse, complex and uncertain "consequences of climate change. Especially the fossil energy sector and its insurers run real risks. When the world wants that global warming is limited to two degrees, one-fifth to one-third of the oil, gas and coal reserves remain in the ground.
Expensive insurance
The insurance industry argues that politicians do too little to reduce greenhouse emissions. "There should be more collective action to reduce the risks for society and ultimately the industry," according to the written statement. European insurers call the letter "the first step in a long journey to control the climate problem for the industry and its customers."
Concerns were further fueled after a climate chief at the United Nations (UN) last month warned that countries must take more action. In December, the UN comes together again to talk about this subject. Countries are trying to draw up a plan to limit global warming to two degrees Celsius.
Dutch insurers warn
Dutch insurers withdrew in May even though the bell. "Climate change has claims on private tenancy and household insurance increases. Unless action is taken, the damage resulting from (extreme) hail expected to double," says the Association of Insurers. They are concerned about the rising risks to their customers and to limit damage.
The Association wants to authorities, water boards and engineering firms talk about measures, for example, not just to build a surface level and spatial planning to take more account of larger spikes in rainfall and possible flooding.
rtlnieuws.nl/ © Reuters
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