Insurance Europe, representing the European insurance industry, wants to play the role recognised by the European Commission as a major tool for adaptation to climate change.
For the insurance sector to offer risk-adapted solutions, it is important to ensure that it can benefit from a level playing field and a stable market for companies of all sizes, says the organisation in its position paper on the EU’s draft Climate Law presented on Monday 4 May (see EUROPE 12464/20).
Insurance Europe supports the Commission’s work to raise awareness of both climate change risks and appropriate insurance solutions for the diversity of existing risks. Member States are indeed exposed to different risks resulting from regional environments, different levels of public awareness, the extent of government intervention, liability regimes or adaptation practices.
The sector emphasises that data and statistics play a key role in improving adaptation to better understand climate risks and trends. It believes that partnerships between insurers and public authorities, which are already in place, can play an essential role in minimising risks. In addition, the industry advocates that insurers’ intellectual property be taken into account when considering the use of their data.
See the position of Insurance Europe: https://bit.ly/2Yt0DrT (Original version in French by Aminata Niang)