To reach the required levels of adaptation and increase the world’s resilience to climate change, parametric insurance is critical in order to manage the long-term impacts and the transition, according to Carl Hess, Head of Investment, Risk and Reinsurance at broker Willis Towers Watson (WTW).

Hess was speaking as part of a panel session at the 2020 edition of the annual World Economic Forum (WEF) meetings in Davos, Switzerland.

He explored what needs to happen in order to get people to invest more in the preparation that is required to reach the adaptation needed, and ultimately increase the resilience of the world to the impacts of climate change.

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