James Eck, vice president-senior credit officer at Moody's Investors Service, sat down with PC360 to discuss his team's latest report, "Climate change risks outweigh opportunities for property and casualty reinsurers."

In the study, Moody's says climate change creates significant challenges for the P&C insurance and reinsurance sectors and has a net negative credit impact on the industry. To a lesser degree, climate change also presents opportunities for firms to introduce new products and expand existing products.

Eck discussed the details on how P&C companies are exposed to climate change risks, the levers these companies have to manage risks and the constraints they face. Eck also elaborated on a pricing uncertainty facing the industry, and how climate change may also pose opportunities along with an increasing number of challenges for the P&C industry.