Researchers say insurers, reinsurers and governments must balance competing trade-offs around risk sharing, pricing and mitigation to sustain disaster coverage.
Insurers will need to adopt AI, geospatial tools and specialist partnerships as conventional underwriting models struggle to keep pace with fast-evolving risks, says Japan's NTT Data.
Insurance Commissioner Regalado said insurers need to adjust underwriting, pricing, reserving and capital management to better reflect future climate-related risks.
