A recent report from Entergy Corp. said that without climate-change mediation, economic losses in the Gulf Coast could rise 50-60 percent by 2030 to $23 billion annually.
“I can say that price levels are at a low and do not reflect the risk at the moment in many regions [of the United States], especially as reflected in Florida and the Gulf Coast,” said Andreas Spiegel, senior climate change advisor at Swiss Re.
These regions have not adequately adapted to the risk of climate change and premiums there don't reflect the underlying risk, he said.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.