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Sustainable development
In line with the OECD's project on sustainable development, one of the organisation's priorities, the Insurance Committee is focusing on two aspects related to insurance and pensions: insurance of environment-related risk and environmentally responsible investment (funds that are invested only in companies that are environmentally responsible).
Environmental risks
This activity focuses on the analysis of recent regulatory developments concerning insurance against environment-related risks in the broad sense. A distinction is made between risks of natural disasters and those in which economic agents incur liability for environmental damage. This type of insurance is playing an expanding role with regard, inter alia, to developments concerning industrial risks, urbanisation and the long-term emergence of harmful consequences.
Problems involving the insurability of such risks, their definition and limitations on cover, whether they are compulsory or optional, insurance pools, indemnity funds and special issues involving reinsurance and other aspects already brought up by the Committee will be dealt with more specifically. Because of the extent of such risks, related insurance issues call for a strengthening of international co-operation in this field. This review will enable a sharing of national experience and of regulatory policy responses in this area. This work will be carried out in close co-operation with the Environment Policy Committee.
Documentation
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