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ARTICLE · 03 MAY 2023

Bermuda Leads In Tackling Climate Change

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Bermuda's proactive approach to climate change and environmental, social and governance (ESG) initiatives serves as a model for other offshore jurisdictions to follow, demonstrating its dedication...

BermudaEnvironment
Ojeda Smith
Ojeda Smith
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Bermuda's proactive approach to climate change and environmental, social and governance (ESG) initiatives serves as a model for other offshore jurisdictions to follow, demonstrating its dedication to addressing these global challenges head on.

Climate change is an urgent global issue that threatens the stability and sustainability of insurance operations worldwide.

It affects not only underwriting activities but also operations and investments, ultimately impacting insurers' ability to satisfy policyholder obligations.

To address this challenge, re/insurers in Bermuda are leading the way in promoting ESG factors within the industry.

Over the past 20 years, Bermuda's re/insurers have paid out more than half a trillion dollars in claims arising from natural and man-made disasters, according to the Association of Bermuda Insurers and Reinsurers.

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