29 June 2021

Today the climate agenda increasingly dominates any discussion on development. Insurance is likely one of the financial market sectors most affected by this issue. However, how can we take into account climate risks in practice? What data and models accounting for climate risks do we need and where can we find them? What data on climate risk exposure should the insurers’ and non-finance actors’ reporting include? What climate change scenarios exist, who forecasts them, for which horizon and how should they be factored in prudential regulation? And the most important question: what can the insurance sector do to reduce climate risks and prevent the negative scenario from happening?

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Climate risks in insurance