Daily Digest: PRA's climate risk guidelines, Lloyd’s Asia launches cyber pool, European insurance stocks surge

Catch up on the essential news and analysis from the Insurance Day experts

PRA climate proposals step up focus on global warming risk - but are not a sea-change The Prudential Regulation Authority’s (PRA) draft supervisory guidelines for climate risk will focus insurers’ attention on medium-term climate planning, experts say. However, they add the proposals are not a radical departure from the approach the regulator has adopted since it first issued climate risk supervisory guidance in 2019. In April, the PRA opened a consultation, which will run until July 30, on a new climate risk framework that will apply to the financial sector generally.