An Integrated Approach to Managing Extreme Events and Climate Risks

This report provides insights about the causes and effects of mounting social and economic risks, analyses the obstacles to fully capturing the insurance industry’s potential and makes concrete recommendations on how to overcome some of these hurdles. It includes:
  1. Insights about causes and effects of the rising economic risks resulting from extreme events and climate change and the growing protection gap
  2. Components of an integrated approach to disaster and climate risk management, synthesis of the international policy momentum for harnessing insurance, and the landscape of stakeholders and related initiatives
  3. An analysis of challenges and gaps with investing in preventive and risk transfer measures and the potential role of (re)insurance
  4. Four recommendations for expanding the footprint of insurance within the integrated disaster and climate risk management framework

 

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Summary

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