Page 104 - India Insurance Report 2023- BIMTECH
P. 104
92 India Insurance Report - Series II
The Crucial Role of (Re)Insurers in
Managing Climate Change Risks
- Prof Pratik Priyadarshi
11 Associate Professor, BIMTECH
- Pankaj Tomar
India Head-AXA Climate
Introduction
Climate change is an escalating global crisis that poses significant risks to the environment, societies,
communities at every scale, and regional and global economies. It is a global issue that has received
increasing attention in the recent past. Of note, Climate Change is characterized by long-term increases
in the global average surface temperature due to human activities, primarily fossil fuel burning, resulting
in an increase in the melting of glaciers, sea level rise, and changing precipitation patterns and an increase
[1]
in weather-and climate-related natural disasters .
Temperature Anomalies over Land and over Ocean
Temperature Anomaly w.r.t. 1951-80 ( o C)
Figure 1 - Land and Ocean temperature anomalies since 1880; Data NASA, GISTEMP [2]
