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EU Creates Natural Disaster Group Amid Insurer Losses

Law360, London (December 7, 2018, 5:02 PM GMT) -- Europe’s top insurance watchdog said Friday that it is putting together a group of experts that will focus on mitigating risks for the insurance sector from natural catastrophes and climate change, as insurers report hits to profits from worldwide disasters.

The European Insurance and Occupational Pensions Authority outlined plans to create a network that will pull together professionals to analyze and model data from natural catastrophes to enable the bloc’s insurers to estimate their losses from disasters. This will help insurers manage risks to their business, such as by taking out reinsurance cover.

The group will also work on developing sustainable...

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