An integrated approach to managing extreme events and climate risks: Towards a concerted public private approach

Towards a concerted public-private approach

This report provides insights about climate-related mounting social and economic risks, analyses obstacles to the insurance industry’s contribution and makes recommendations on how to overcome some of these hurdles.

The report's recommendations for expanding the engagement of insurance industry within the integrated disaster and climate risk management framework, are the following (pp. 19-20):

1. Raise awareness of the of socio-economic benefits of an integrated approach to managing disaster and climate risks through documentation and sharing of good practices.
2. Harness the (re)insurance industry’s risk knowledge and risk modelling expertise and develop of next generation of predictive catastrophe risk models.
3. Engage the insurance industry in enhancing the resilience of critical infrastructure.
4. Employ insurance solutions to enhance the resilience of mega-cities and urban systems.