Climate risks rise, but businesses stay focused on short-term challenges: Beazley report
Despite a surge in extreme weather events, only 20% of executives rank climate-related catastrophic risk as a top concern. At the same time, 72% report adopting new risk management procedures in response to severe weather, signalling a reactive rather than proactive approach to climate adaptation. Insurers warn that without stronger risk mitigation strategies, businesses could face rising premiums, coverage limitations, or even difficulty securing insurance in high-risk areas.
