Studies from University of Waterloo Describe New Findings in Climate Change (Insurance and Climate Change Risk Management: Rescaling to Look Beyond…

Global Warming Focus

Studies from University of Waterloo Describe New Findings in Climate Change (Insurance and Climate Change Risk Management: Rescaling to Look Beyond the Horizon)

By a News Reporter-Staff News Editor at Global Warming Focus -- Investigators discuss new findings in Climate Change. According to news reporting out of Waterloo, Canada, by VerticalNews editors, research stated, "Climate change represents a significant financial risk to the insurance industry, but research has yet to assess whether the industry is managing this risk. Through the application of scale as a vertically nested hierarchy of relationships, this paper seeks to evaluate whether insurers are rescaling' risk management practices to accommodate the temporal and spatial uncertainty associated with climate change."

Our news journalists obtained a quote from the research from the University of Waterloo, "This framework is applied to a content analysis of 178 (183) firm responses to the 2012 (2015) U.S. National Association of Insurance Commissioners Climate Risk Disclosure Survey to detect evidence of rescaling through climate change risk management (CCRM). The results reveal that the majority of companies do not integrate climate change into their risk management practices, but reinsurers are rescaling in a greater proportion than primary insurers. This finding confirms that a nested spatial and temporal scale in the insurance industry creates resistance to CCRM."

According to the news editors, the research concluded: "The use of scale contributes to emerging scholarship on organizations and climate change by offering a framework for measuring organizational responses and justifying a research agenda on rescaling strategies as a means of risk management."

For more information on this research see: Insurance and Climate Change Risk Management: Rescaling to Look Beyond the Horizon. British Journal of Management, 2018;29(2):279-298. British Journal of Management can be contacted at: Wiley, 111 River St, Hoboken 07030-5774, NJ, USA. (Wiley-Blackwell - www.wiley.com/; British Journal of Management - onlinelibrary.wiley.com/journal/10.1111/(ISSN)1467-8551)

Our news journalists report that additional information may be obtained by contacting M.O. Wood, University of Waterloo, SEED, Waterloo, ON N2L 3G1, Canada.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1111/1467-8551.12302. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.

Keywords for this news article include: Waterloo, Ontario, Canada, North and Central America, Global Warming, Climate Change, University of Waterloo.