Extreme weather conditions could hurt businesses — but climate change isn’t all to blame, said Russell Higginbotham, CEO at Swiss Re’s reinsurance Asia arm and its regional president.
The migration of people and resources to coastal areas — which bear the brunt of the effects of natural disasters — have made it harder to combat economic losses from climate change, he told CNBC Wednesday.
“People take the easy option to say this is all about climate change. It’s a little bit more complicated than that,” he said. “It’s generally been a migration of population and assets to coastal regions where these events tend to hit.”
Extreme weather conditions become catastrophic when they hit…