Insurance Day Asia
CHINA URGED TO LEARN FROM NEIGHBOURS
China should look at what its Asian neighbours are doing in terms of developing professional risk-transfer mechanisms, according
to the head of climate risks at
Munich Re. Ernst Rauch explained: “Not only do these mechanisms help stabilise economies, they also accelerate the recovery from natural
catastrophes. Without such mechanisms it takes years and years to recover from such disasters.” He highlighted that while
the effects of climate change had only recently been seriously taken into consideration by certain governments, the insurance
industry had been following the pattern of climate change for more than 30 years and was keen to help governments see the
broader picture.