Weather and climate risk insurance play an important part in today's global economy. Weather risk is not confined to a particular location or time of year. According to the Intergovernmental Panel on Climate Change (IPCC), "some extreme weather events have changed in frequency and/or intensity over the last 50 years:
- It is very likely that cold days, cold nights and frosts have become less frequent over most land areas, while hot days and hot nights have become more frequent.
- It is likely that heat waves have become more frequent over most land areas.
- It is likely that the frequency of heavy precipitation events (or proportion of total rainfall from heavy falls) has increased over most areas.
- It is likely that the incidence of extreme high sea level has increased at a broad range of sites worldwide since 1975."
(source: IPCC Synthesis Report 2007)
At ACE Specialty Products - Global Weather, we can offer you broad range of inventive insurance and risk management products to manage climate and weather-related risks, including hurricanes. Our highly experienced staff excels at providing innovative solutions that can help risk managers mitigate their weather risk exposure. Our quantitative analysts, underwriters and meteorologists will work with you to identify your risks and develop suitable coverages to mitigate your exposure to the changing climate and weather-related risks.