Climate change affects companies that contribute to atmospheric carbon dioxide levels, as well as those that will feel the impacts of rising sea levels, floods or fires, changes in where people choose to live, or changes in consumption patterns. (Photo: Shutterstockl)
The Bank of England's Prudential Regulation Authority has begun its latest stress test for general and life insurers. This biennial exercise tests the insurance industry's market resilience to physical events of the sort that have garnered a lot of media coverage in recent years: hurricanes, earthquakes, tsunamis, windstorms, floods. It also includes two new risks: climate change and cybersecurity.
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