The insurance industry is poised to face continued hefty losses from flooding, increasing sea levels and drought because of climate change, and it should urge the adoption of building codes and sustainable strategies that will lessen the impact, according to a report from Guy Carpenter. "In order to adapt to climate change and the changing risk landscape, it is necessary to cut through [the] noise and focus on objective decisions to mitigate both the financial and social risks associated with climate change," said Johnny Chan of the Guy Carpenter Asia-Pacific Climate Impact Centre.

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