Will SA's Insurance Industry survive Climate Change?

The effects of a changing climate must be written into policies for insurance companies to ensure their survival as well as that of their policyholders.

"Agencies that ignore climate change as a threat may soon see themselves out of business," said Ed Gluckman, MD of Global Carbon Exchange (GCX), who is presenting the first ever South African white paper on Adaptation for the Insurance Industry at Santam’s Ecocentric Journey, currently underway in Cape Town (15 - 17 September 2009).

Vanessa Ott-Mentz, Head of Santam's Strategy Unit, who initiated the conference aimed at the insurance industry as a whole, said "It is clear that the local insurance industry and its extended participants are not prepared for the downside or the upside of the green economy.”

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