Mitigating the impact of climate change in insurance and other financial services
IBM Big Data Hub
MARCH 25, 2024
The US experienced 25 extreme weather events in 2023, each causing losses of over USD 1 billion, with a total cost of USD 73.8 For other financial services firms outside of the insurance sector, property accepted as loan security might face climate-related risks as well. As a result, their market would shrink.
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