Legal: The opportunity of uncertainty

flooding

The vague Green Economy Bill is not an excuse for the industry to ignore climate change risks, rather to take a lead in tackling the problem and grab a big opportunity, writes Lindene Patton.

We are used to the idea that governments will intervene and legislate to try to tackle climate change, whether that constitutes legal provisions for green energy, laws to limit carbon emissions or energy markets regulation. Exactly how these laws affect insurance is less clear.

Zurich sponsored a survey among global risk managers to probe their views on climate change risks and the findings - published in April 2010 - were clear: climate change itself was well understood. Long gone are the days

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FSCS gives first insight on increasing levy to £394m

The Financial Services Compensation Scheme has indicated its levy for 2025/26 will rise to £394m from £265m this financial year as it cited having lower surpluses to carry forward and offset bills – a factor that has benefited brokers for two years in a row.

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