Abstract
The cost of extreme weather events, resulting from climate change, has increased by 37 per cent per decade since the 1980s (Mills, 2009). This has raised serious questions about the financial sustainability of the insurance industry and, indeed, about its future role as the world’s risk manager, prompting the industry to begin to reflect on how it might better manage the impacts of climate risk in the future.
This work is based on research supported in part by the National Research Foundation (NRF) of South Africa. Opinions, findings and conclusions or recommendations expressed herein are those of the authors, and the NRF accepts no liability whatsoever in this regard.
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© 2013 Tom Herbstein, Jan Froestad, Deon Nel and Clifford Shearing
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Herbstein, T., Froestad, J., Nel, D., Shearing, C. (2013). Insurance, Climate-Risk and the Barriers to Change. In: Börzel, T., Hamann, R. (eds) Business and Climate Change Governance. Governance and Limited Statehood Series. Palgrave Macmillan, London. https://doi.org/10.1057/9781137302748_8
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DOI: https://doi.org/10.1057/9781137302748_8
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