Climate change and corresponding natural perils are the top concerns facing the insurance industry now, and in the future. That was the verdict of J.P.Morgan and Taylor Fry’s General Insurance Barometer, which comes to the conclusion that not only are climate change and natural disasters having an effect on profitability, they also loom large as an increasing concern for industry figures and firms.
Now in its eighth edition, the General Insurance Barometer for 2019 was revealed to the public at a launch-conference event in Sydney on Tuesday. Siddharth Parameswaran, J.P. Morgan insurance analyst, introduced the barometer containing the two firms’ findings stating: “the insurance industry is under some pressure.”
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