WASHINGTON—Standard & Poor's Ratings Services says in a new paper that reinsurers are taking a “huge risk” by ruling out the potential that climate change is already impacting their exposure to catastrophic losses.
Indeed, reinsurers might be underestimating their exposure to extreme weather by an average of about 50%, the paper says.
The article “Climate Change Could Sting Reinsurers That Underestimate Its Impact,” was published Tuesday.
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