Businesses are grappling with the implications of “unprecedented” nature loss and its irreversible ramifications—but the risk transfer industry has a crucial role to play, according to Swenja Surminski, managing director of climate and sustainability at Marsh McLennan Advantage.
Insurers and brokers will play a crucial role in helping analyse, understand, and more importantly, mitigate rising nature-related risks, which businesses have just started exploring. It will require a sustained barrage of change and innovation but also actions to protect against possible liabilities, reputational consequences and the “danger of greenwashing”, a climate resilience and adaptation expert at Marsh has said.
Businesses are grappling with the implications of “unprecedented” nature loss and its irreversible catastrophic ramifications. Despite that, nature-related risks are rarely accounted for by businesses. However, Swenja Surminski (pictured), managing director of climate and sustainability at Marsh McLennan Advantage, believes that is about to “change significantly” in the next few years.
Speaking to Intelligent Insurer following the release of Marsh’s report “Embracing nature” in September, Surminski explained that although companies are still at an early stage, they are starting to recognise their dependency and impact on nature, and how that can affect their assets and operations in the near future.
Marsh McLennan Advantage, Nature-Related Risks, Greenwashing, Risk Transfer, Climate Change, Insurance, Reinsurance, Swenja Surminski, Europe, Global