Private Client Services by Mercer
Managing the impacts of climate change with Life Insurance
From droughts and wildfires to storms and floods, climate change was a trending topic at the start of 2020 in the international agenda. It was thrusted into the spotlight after a series of catastrophic events transformed the issue. In one of the articles published in the 2020 Marsh & McLennan Climate Resilience Handbook, it was observed that investors and financial regulators are now paying more attention to how companies are managing the risks from climate change. In fact, financial regulators around the world have begun to issue new guidance for banks and insurers in response to the repercussions of climate change that can pose to their economy^. The financial hit from climate change is real and it potentially reduces the value of your assets or force companies to incur unnecessary costs from weather-related events.
The COVID-19 global pandemic has further increased vulnerability to climate-related disasters. Governments, companies, and households are stretched to a breaking point as they are all less able to cope with the crisis and recover*. In the United Kingdom, the domestic coronavirus resurgence coincided with a series of weather-related events which created a surge in the number of people with respiratory and cardiovascular problems across the country. A deficit in climate risk oversight could become a personal liability.
In times of such uncertainty and beyond, Private Client Services by Mercer can help your High Net Worth clients to anticipate and manage their financial risk through our comprehensive suite of risk management propositions, with a focus on integrated life insurance solutions with their wealth planning needs in mind.
Personal guarantees for business
Offshore asset creation
Estate duty/ Inheritance tax