The insurance industry, government and the scientific community should call time on the climate change debate, according to one senior insurance figure.
Speaking at the Insurance Times conference, Peter Hubbard, chief executive of AXA Insurance, insisted that it was time to do something about the growing global issue and called for ‘no more debate'.
“The fact is over the last 30 years there have been four times as many weather events,” Hubbard said. “The debate over some of the subtleties has now passed because the facts are the facts.”
Hubbard said the global insurance industry, which wrote $3,000bn worth of premium last year, had a very important part to play in dealing with the effects of climate change, adding that the focus should be on incentivising change.
“As an industry we need to help the government determine what the carrot looks like as opposed to what the stick looks like,” Hubbard said.
