The Federation of Consultants
from Islamic Countries
The Federation of Consultants
from Islamic Countries
NEWS & EVENTS

Climate Change and Insurance Sector

September 10, 2024

The impact of climate change is detrimental to both urban and rural populations.

 

Munich Re Group estimates that the loss caused by natural disasters worldwide in the first half of 2024

was USD 120 billion.

 

According to the Association of British Insurers (ABI), weather-related events such as storms, floods

and frosts cause an increase in claims. The claims for these events amounted to £144 million during

the second quarter of 2024. Only claims for landslides exceeded a record high of £60 million. These

payouts clearly illustrate how insurers are having to reassess their risk calculations.