International insurers are keen to produce new products to handle risks associated with global warming – but only if governments commit themselves to reducing pollution.

Lloyd’s, Swiss Re and AIG are among insurers that have called for governments to take swift action to slow the onset of global warming. Their statements followed the United Nations Intergovernmental Panel of Climate Change report warning that weather will become more severe as temperatures rise.

AIG and Swiss Re are already offering products to manage risks associated with carbon credits trading.

The 113 IPCC scientists say it is 90% certain that global warming is man-made and will worsen for centuries, with sea levels rising by up to 58cm.

Swiss Re Head of Sustainability and Emerging Risks Ivo Menzinger says the IPCC report will help place climate change at the top of the global political agenda.