Insurance, Climate Change and the Law [Paperback]

This book puts forward the case for a new vision of the role of the insurance industry as climate action enablers and makes proposals for insurance products and risk transfer and loss resilience structures that can support policyholders in their transition to a Net Zero economy.?

1. Introduction 2. Climate change: The science, the international stage, terminology, and boundaries 3. Climate change risks and the role of insurers 4. Climate change risk assessment and regulation 5. Climate-related disclosures 6. Insuring green and not insuring brown 7. Greening insurance 8. Climate-related impact investment and stewardship 9. The role of government and public-private insurance solutions 10. Conclusion: Insurers as climate action enablers

The insurance industry has found itself at the front line of climate change challenges, providing insurance cover in relation to risks associated with climate change. As risk carriers, insurers pay claims for climate change related losses  such as property damage caused by windstorms, flooding, and wildfires  which have been increasing in frequency and severity.

As major institutional investors, insurance companies invest in assets that may be increasingly vulnerable to climate risks. Insurance regulators across the globe have therefore started to require insurance companies to identify, manage, and report on climate change risks that could pose a threat to their financial stability. However, managing and reporting on the effect of climate risk on an insurers balance sheet is an inward-looking perspective that does not stem climate change. It needs to be paired with an outward-looking perspective that takes account of the insurance industrys impact on the environment and the insurance industrys capacity to influence what policyholders, investee enterprises, and other business partners do to address climate clse