Insurance and the Marine Environment
To mark World Ocean Day, WWF and RSA have launched their first joint Emerging Risks Briefing to highlight the challenges and opportunities of marine risk.
Partnering for Progress in a Changing World
As our global population is growing, so too is the demand on marine resources whether for fishing, resource extraction, or simply as a result of increased transportation. All these factors are placing the marine environment under ever-growing pressure and have the potential to radically alter already fragile ecosystems.
By identifying these risks and how they interact, business can not only effectively manage the risks facing their business but capitalise on new opportunities and contribute to a sustainable long-term solution.
The report considers:
- Fishing in Canada and the potential impact of Marine Protection Areas;
- Best practice aquaculture management and a focus on systemic risks in Chile;
- Shipping design, efficiency and the impact of low sulphur fuels;
- Improving safety and minimising environmental risk from cargo;
- Exploring wet renewables as a commercial proposition; and
- An interactive oil spill scenario off the west coast of Scotland.
The report is the first in a series of briefings that focus on key risks arising from environmental change, explore new research and consider the implications for the insurance industry. They will also provide practical guidance on how businesses can manage and mitigate these risks.
