Reinsurance Association of America said today it formally adopted a climate change policy Tuesday at its fall board meeting recognizing climate impacts on the world's social and economic risks.
In doing so, the RAA said it is the first insurance industry organization to have such a policy in force.
“It is incumbent on our industry to acknowledge the changing climate and the risks it poses to the business community and to ensure that policymakers consider measures for adapting to, and mitigating, the potentially adverse impacts of climate change,” said Frank Nutter, president of the RAA.
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