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Sun Dec 3, 2023, 10:46 AM Dec 2023

Hillary Clinton at COP28 climate talks calls for insurance reform [View all]

DUBAI, Dec 3 (Reuters) - Former U.S. Secretary of State Hillary Clinton called on Sunday for reform of the insurance sector, where companies are increasingly withdrawing assistance against climate shocks.

Lower-income countries and workers in nations most affected by climate change are struggling to access insurance to help protect them from economic shocks.

"We need to rethink the insurance industry," Clinton said during a panel on women and climate resiliency. "Insurance companies are pulling out of so many places. They're not insuring homes. They're not insuring businesses."

Clinton earlier this year joined the Arsht-Rock Foundation Resilience Center as a global ambassador on heat, health and gender. The center has pioneered new forms of so-called parametric insurance that offer payments once disasters hit a pre-set extreme.
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