LONDON (Reuters) – Insurers are heavily exposed to the impact of climate change and also face risk from their alternative investments in reinsurance, the International Association of Insurance Supervisors said in a report on Wednesday. Insurers continue to have “material exposure” to climate change through investments in fossil fuels and energy-intensive industries, as well as through their underwriting of natural catastrophe risk, the global insurance watchdog said. This exposure could hit insurers’ profitability and eat into their capital buffers, according to the IAIS, which is made up of i…