The Risk and Insurance Management Society, Inc. (RIMS) and the U.S. Environmental Protection Agency (EPA) reached an agreement to develop a framework for addressing risk and insurance management issues relating to climate change. RIMS and the EPA signed a memorandum of agreement yesterday for developing the framework, which will consider outreach, education, research and emerging mitigation and adaptation activities relevant to climate change.
The goal of the agreement is to improve overall understanding of climate change issues by industries and the government as well as increase awareness of the possible connection between climate change and the rapidly rising claims for losses from natural disasters. Companies working to reduce climate change risks will also benefit with better access to information and guidance on insurance oriented mitigation and adaptation opportunities.
RIMS president, David Mair, signed the agreement on behalf of RIMS on Wednesday, June 20 at 4:30 p.m. at the Hyatt Regency, Capitol Hill. The agreement will remain flexible enough to evolve as new knowledge and information on climate change becomes available.
Was this article valuable?
Here are more articles you may enjoy.