40% of insurers fail to specify climate as a key risk – LCP

Despite regulators’ urging, many UK and Irish insurers omit climate from risk statements, says report

Firms-omit-climate-risk-from-reports
Risk.net montage

Forty per cent of UK and Irish non-life insurance companies failed to mention climate change in their most recent risk reports, according to new research by LCP, a pensions consultancy, despite regulators demanding that they do so by the end of the year.

LCP found that almost half of the 100 firms it examined ignored the climate crisis in their Solvency and Financial Condition Reports (SFCRs) even though the UK’s Prudential Regulation Authority said in a July letter that insurance companies

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: