Evaluating Climate Change Risks for Insurance Companies

As the Chief Risk Officer of a large property and casualty insurance company, your firm is facing new challenges related to climate change and its impact on underwriting and investment strategies. The board has tasked you with evaluating how these external risks affect the company's overall risk profile and investment policy framework. In your essay, discuss the implications of climate change for insurance underwriting, the potential regulatory changes that may arise, and the impact on the investment portfolio. Additionally, recommend strategies for integrating climate-related risks into the company's investment decision-making process.