Climate resilience needs a 10 year view says Gallagher on parametric insurance and carbon credits

Risk managers need to shift from annual insurance planning to a 5 to 15 year view of climate exposure, according to James Bosley, head of climate strategy at Gallagher. He argues that changing weather frequency and severity, not just intensity, is catching businesses off guard. Parametric insurance is gaining traction because it pays out within 30 days of a predefined trigger, providing working capital when traditional claims take months. Bosley also highlights carbon credits as a practical tool for hard to abate sectors like aviation, where schemes like CORSIA create a genuine financial obligation to offset emissions above 85% of 2019 levels. Gallagher's climate consulting team helps firms model how their assets and insurability could evolve over the next decade. The core message is that resilience is a long term strategic issue, not a renewal conversation. Businesses should lean on partners, stay curious, and raise concerns early rather than waiting for coverage gaps to appear.