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Climate Change Replaces Pandemic as Insurers’ Biggest Worry

  • Pandemic risk, ranked first in 2020, is now third globally
  • Cyber risk concerns grow among insurance professionals
    

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Climate change has returned to the top of the list of insurers’ biggest concerns as the vaccine roll-out and gradual lifting of health restrictions see pandemic fears ease in many countries.

Global warming was ranked as the biggest risk to society over the next five to 10 years in a report released Tuesday by French insurance giant AXA SA. While that also topped the ranking in 2018 and 2019, it was outstripped by diseases and pandemics last year as the virus spread across the globe.