Core competencies for the insurance industry that make the industry uniquely positioned to understand climate change and seek solutions for minimizing its impacts include which of the following:

Question

Quizplus · Accepted Answer

All of the options listed are core competencies for the insurance industry that uniquely position the industry to understand climate change and seek solutions for minimizing its impacts. Risk management and finance are essential skills for assessing and managing the financial risks associated with climate change. Experience with weather-related damages and consulting with property owners and businesses on ways to reduce risks is important for understanding the physical risks associated with climate change. Experience in underwriting insurance for weather-related damages is necessary for assessing risk and pricing policies appropriately. Finally, hiring senior climate scientists and using analytics to assess underwriting risk and conduct research is essential for developing the technical expertise necessary to understand the science behind climate change and its impacts.

Core Competencies for the Insurance Industry That Make the Industry