BCV assures that national insurers are prepared to respond to climate risks – coordinator

Praia, July 1 (Inforpress) – The Bank of Cabo Verde (BCV) acknowledged that national insurance companies maintain solvency levels above regulatory minimums, demonstrating the capacity to respond to losses caused by extreme weather events, despite the limited insurance coverage in the country.

The assurance was given by the coordinator of the Insurance and Pension Funds Supervision and Automobile Guarantee Fund Management Office of the BCV (Bank of Cabo Verde), Naldino Delgado, in statements to the press, on the sidelines of the conference "The role of insurance in managing the risks of climate change – innovation and development", promoted by the BCV.

As he explained, the conference aims to encourage reflection on the impact of climate change on the insurance sector and to identify innovative solutions that will help to strengthen the protection of the national economy.

‘The BCV’s role is precisely to ensure that this discussion takes place and to put forward solutions to address the risks inherent in climate change,’ he said.

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