The insurance sector is having to re-calibrate its risk models in the face of global climate change. Previous probabilities of climate-related disasters are no longer valid and impacts (losses) incurred in distant regions are affecting premiums at home.
Yet insurance take-up for flooding and heat-related damage remains relatively low. This event will consider the role of the insurance market in driving behavioural change and encouraging citizens, corporations and communities to be more resilient to the inevitable changes from a warming planet.
This event will bring together key players to discuss how of the insurance sector (agents, brokers, re-insurers, loss adjusters) can best incentivise behavioural change to help make citizens, corporations and communities more adaptable to the inevitable changes from a warming planet.
The intention is to produce a working paper that will generate a work stream on the role of insurance in climate adaptation / mitigation. These would be complete by the time of COP 26.
This event will be a joint event with the London Climate Change Partnership.
Emma Howard Boyd, Chair, Environment Agency
Julia Elizabeth King, Baroness Brown of Cambridge, Chair of the Adaptation Committee, Committee on Climate Change.
Professor Jason Lowe, Principal Fellow and Head of Climate Services, Met Office
Philip Songhurst-Thonet, Senior Director, Control Risks
Professor Chris Rapley CBE, University College London