Danish Insurance Essay

3059 Words Oct 13th, 2012 13 Pages

Contents Introduction 3 Problem statement 4 Delimitation 4 Methodology 5 Risk management 6 Charateristics of insurance industry 6 Risk qualification 8 Approximate cost for a threat determination 8 Probability of threat accuracy or that vulnerability will be affected 9 SWOT analyses 10 Matrix between Strengths-Threats and Opportunities-Weaknesses 11 Conclusion of SWOT analysis 13 CONCLUSION 14


Climate change is a significant and lasting change in the statistical distribution of weather patterns over periods ranging from decades to millions of years. It may be a change in average weather conditions or the distribution of events
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As climate change is a global issue, the question of financial preparedness spreads through relevant policies and strategies of all nations. However, not only Earth is affected by climate change – financial institutions, such as insurance industry, have to face changes in the climate as well.

Problem statement

One of the most important aspects for insurance companies is their financial strength. In case of natural disasters it is crucial that insurance companies do not go bankrupt and can provide the consumers with their claims. If insurance companies fail to prepare for unexpected damage costs, it leads to losses not only for the company but as well for their consumers. It is self-evident that climate changes have big influence on insurance industry and it is facing threats regarding to climate changes. Trying to understand how these threats can be solved with existing financial instruments and ability to use different business structures to react to the situation, may bring to sufficient changes in understanding the problems of the impact of the climate changes to insurance industry and their ability to tackle them. The salvation of these threats can lead insurance companies to operate more effective.

On this basis, the problem statement: How does the climate change affect the insurance industry? Hereon

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