MONTE CARLO, MONACO–Rising sea levels and changing weather patterns could mean insurance losses for high risk properties in coastal areas could double by 2030 unless protection measures are taken, a new study warns.
The finding was made in a report released here by Lloyd's and Risk Management Solutions.
Richard Ward, Lloyd's chief executive officer, said, "Our work over the last three years supports the view that rising sea levels is absolutely one of the most important consequences of climate change." He emphasized that rising sea levels need to be "taken very seriously" by society and the insurance industry.
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