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  • time : 9:30:1
  • Date : Sat Feb 15, 2020
  • news code : 3315
Formulating Climate Change Roadmap for the Insurance Industry by IRC and Iran Insurers Syndicate
In a meeting where IRC’s Catastrophe Taskforce presented its latest findings regarding the effects of the climate change on the insurance industry, the idea of forming a climate change committee in Iran Insurers Syndicate was highlighted.

In the General Assembly of Iran Insurers Syndicate held on Monday, February 10, 2020, the Head of the National Disaster Management Organization of Iran, General Secretary of Iran Insurers Syndicate, Head of IRC, and some of the insurance company CEO’s participated and the proposal for the formulation of climate change roadmap for the insurance industry was consented.

In his speech, referring to the significance of climate change as one of the important key trends in the world and in various industries, Dr. Kordbacheh said: “For the insurance industry, this issue is of utmost importance since various risks that the industry covers are affected in this regard.”

“AI and climate change are the two highly significant issues that will affect the economies and societies in the future and the insurance industry must have suitable plans and be prepared properly.” He added.

Emphasizing the fact that the climate change creates new types of risks, affects the previously recorded risks and stimulates new areas of activities, he stated: “Since this issue affects the severity and frequency of the losses incurred due to natural disasters, it is considered as a significant threat to the insurance industry. For that reason, during the last two decades, developed countries such as the U.S. and European countries have paid special attention to this issue and now they are more focused when encountering with such catastrophes while Iran still acts more passively in this regard.”

Dr. Kordbacheh noted that IRC with the extensive study on global experiences has put the formulation of climate roadmap for the insurance industry into its agenda and this will be taken in two major routes; one by the Catastrophe Taskforce that will work on the conceptual and identification issues while the operational and implementation matters will be followed with a committee in the industry with the leadership of Iran Insurers Syndicate.

It must be noted that in this session it was stated that IRC will cooperate with the National Disaster Management Organization of Iran in order to conduct relevant studies and devise appropriate plans with regard to the climate change issue.

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