Climate Risk Update: The Intersection of Physical Risk and Insurance Industry Developments

Banks and insurance companies are now recognizing that catastrophic weather events are becoming a major and inescapable risk factor—one that corporate risk managers worldwide must contend with as the exposure to and cost of climate change swells. 

Risk managers from banking and insurance are examining how physical risks stemming from climate change could shape credit portfolios and other concerns.  

Matt Kramer, climate risk executive at U.S…