‘Sustainable insurance’: Seven takeaways from the first-ever summit of insurers and city leaders

Insurance is a tool that can be used to help achieve SDG 11 on building safe, resilient and inclusive cities. And city leaders are urged to start understanding their risks and how to reduce these.

For the insurance industry, the global trend toward urbanisation means a lot of new business.

The growth of bigger, wealthier cities hints at a lot of new property that could be insured. Urbanisation is also an opportunity for investment managers at insurance companies, as profits will be found in financing the energy, transport, water and other infrastructure of growing cities.

City leaders should have a keen interest in the insurance industry, as well. As cities face growing threats from natural disasters and severe weather made worse by climate change, insurance can absorb some of the risk. Cities and insurers agree on the need to build urban resilience.

Preventive measures such as strengthening building standards not only can save lives — they also can save insurers money on paying claims.

http://www.eco-business.com/news/sustainable-insurance-seven-takeaways-from-the-first-ever-summit-of-insurers-and-city-leaders/