extremely long. This means that there must be bills to establish "proof of loss," not just casual references. RISK & Insurance .ppt - Free download as Powerpoint Presentation (.ppt), PDF File (.pdf), Text File (.txt) or view presentation slides online. Dramatic hikes in insurance premiums combined with tighter lending in response to climate risk could trigger a wider property market correction, according to leading climate risk analyst Karl Mallon. The risk of any unanticipated losses is transferred from the policyholder to the insurer who has the right to specify the rules and conditions for participating in the insurance pool.