risk bearer

"It's consumers that become the risk bearers, and if management makes mistakes, consumers pay.

However, as "the risk bearer of last resort... reinsurance firms need to be anticipatory regarding the impact of climate change," says Swiss Re's Mr Walker.

"The stakeholders in a corporation are the individuals and constituencies that contribute, either voluntarily or involuntarily, to its wealth-creating capacity and activities, and that are therefore its potential beneficiaries and/or risk bearers."