Insurance of weather and climate-related disaster risk: Inventory and analysis of mechanisms to support damage prevention in the EU
This study provides an overview of the use of insurance against natural disasters by documenting and analysing the available mechanisms to support damage prevention in the European Union (EU). It suggests general recommendations as well as specific recommendations on the role of the European Commission in addressing the issues uncovered, and encourages stakeholder’s efforts and best practices observed across the EU.
The study consists of the following tasks: (1) Stock-taking of insurance mechanisms covering weather-related disaster risks, applied in (and beyond) the EU, (2) Analysis of the cost-effectiveness of insurance mechanisms, including preventive capacity and an analysis of which mechanisms incentivise prevention of risk and support damage reduction, and (3) Definition of next steps in insuring weather and climate-related extreme events.