Ulviyya Jabbarova: Climate change is significant signal for insurance sector

The risks and damages caused by climate change are increasing every year and this is an important signal for the insurance sector, Chairperson of the Supervisory Board of Azerbaijan Association of Insurers (ASA) Public Union Ulviyya Jabbarova said, Report informs.

She made the statement at the Azerbaijan International Insurance Forum (AIIF-2024) in Baku on June 20.

"As in the world insurance industry, another topic that deeply concerns us is the ecological situation, green world concept and climate change. The influential representatives from around the world will discuss this topic within the framework of COP29 in Azerbaijan. Modern challenges include regulatory innovations. So, changing requirements, new standards and improvement of management forms are the main targets here. The main task of insurers is to adapt to these innovations as quickly as possible and, as a result, actively participate in the overall sustainable growth," Jabbarova stated.