Zurich Insurance Group’s report, “Climate Risks: Strategies for Building Resilience in a More Volatile World,” released on May 13, 2025, in Kuala Lumpur, addresses the escalating threats of extreme weather and natural catastrophes, which have caused USD 2 trillion in economic losses over the past decade.
Climate Resilience
The report highlights the increasing frequency and intensity of events like hurricanes, floods, and wildfires, driven by climate shifts such as rising temperatures and sea levels. It emphasizes the insurance industry’s critical role in financial recovery but notes that growing losses are outpacing coverage, leaving many households and businesses underinsured or uninsured.
Teresa Wong, Zurich Malaysia’s Chief Risk Officer, stresses reframing insurance and takaful to focus on risk prevention, reduction, and resilience-building, beyond traditional risk transfer.
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