Climate change has been front and centre of Mark Leplastrier’s career since he joined IAG 21 years ago.

Today, as executive manager ­— natural perils, he and his team are focused on risk modelling, primarily for reinsurance, risk-based pricing and major event support.

Leplastrier believes that as the global average temperature increase is hovering around 1.2°C above the 1850 — 1900 average, everyone in insurance or reinsurance should consider the rapidly-changing climate as part of their risk management in the near and longer terms.

‘We’ll be surprised by the way relatively small changes to background climate can bring about exponential increases in damage,’ he says.

‘Once you cross the thresholds of how we design buildings and where we put them, the damage can really ramp up.

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