Climate change: Aggravated risks and necessity to adjust

Petrović, Miloš (2020) Climate change: Aggravated risks and necessity to adjust. Tokovi osiguranja, XXXVI (1). pp. 57-66. ISSN 1451-3757

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Abstract

This paper will examine the relationship between the effects of climate change and the need to develop different aspects of insurance. Series of measures that various insurers and experts have taken in an effort to adjust their businesses to new circumstances evidence that insurance industry has already become interested and active in addressing climate change issues. Given that this is a global challenge, the author highlights the necessity for the broadest possible circle of financial and other actors to recognise the risk of growing unpredictability as one of the rare patterns to be reckoned with in the context of changing climate. The paper indicates that international actors, governments, and business entities will need to work together to create a framework that will be more poised for different climate circumstances, and additionally encourage and stimulate individuals to give their appropriate contribution and protect themselves, their property and environment from the consequences of this global phenomenon.

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