NU Online News Service, May 29, 12:14 p.m. EDT
Lawsuits related to climate change could expand faster than the explosion of asbestos claims and have significant impact on insurers, Swiss Re is warning in a new report.
The Zurich-based firm, in an examination of the consequences of globalization of class actions on insurers, said, "We expect, however, that climate change-related liability will develop more quickly than asbestos-related claims and believe the frequency and sustainability of climate change-related litigation could become a significant issue within the next couple of years…"
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