- Work with policy makers nationally and internationally to help them develop and maintain an economy that is resilient to climate risk.
- Promote and actively engage in public debate on climate change and the need for action.
- Support work to set and achieve national and global emissions reduction targets.
- Support Government action, including regulation, which will enhance the resilience and reduce the environmental impact of infrastructure and communities.
- Work effectively with emergency services and others in the event of a major climate-related disaster.
How is Lloyd’s taking action and informing public policy making?:
As part of Lloyd’s 360 Risk Project, created to generate discussion on how best to manage risk in today’s business environment, Lloyd’s has organised events and produced several research reports on the impact of climate change.
Lloyd’s has also been actively engaged with the finance group of the London Climate Change Partnership (Greater London Authority) and continues to work with policy makers to help them develop and maintain an economy that is resilient to climate risk. Lloyd’s representatives attend meetings with MEPs in Strasbourg relating to ABI and CEA initiatives, and Trevor Maynard, Lloyd’s Emerging Risks Manager, spoke recently at the EU Commission’s “Green Week” on how insurers can help with adaptation.
Lloyd's regularly conducts disaster planning exercises and the true stress test of all these exercises comes when a major loss happens. At such a time, Lloyd’s ability to effectively co-ordinate the market is one of its key strengths. An excellent example is the record hurricane season in 2005. When Katrina struck, we immediately set up a response team in London to deal with it, and established a free Lloyd’s phone line in the United States for those with policy queries. More than 5,000 calls were taken in relation to Katrina, Wilma and Rita, and Xchanging Services has dealt with more than 10,000 claims.
