Dr. Peter Meyer, Dr. Oleksandr Sushchenko, and Dr. Reimund Schwarze explore the growing challenges climate change poses to the insurance industry, particularly as the risks associated with climate change increase and strain markets. As climate change intensifies, insurers are forced to reconsider how they approach coverage, moving beyond traditional reactive models that simply compensate for losses. This white paper identifies five key functions of climate insurance and emphasizes the need for insurance to evolve to address not only immediate losses but also to contribute to long-term solutions that help mitigate future risks. By fostering collaboration between insurers, municipalities, and financial institutions, the sector can play a pivotal role in redirecting global capital toward sustainable urban adaptation, securing equitable and long-term protection against climate-driven disasters.
The white paper can be viewed here through the Columbia University library system.
