07/02/2023 (Agence Europe) – The European Insurance and Occupational Pensions Authority (EIOPA) has found that insurers are not yet including sufficient climate-related adaptation measures in their non-life underwriting practices, in a report published on Monday 6 February. “Only 23% of the total losses caused by extreme weather and climate-related events are insured. Leading to a substantial insurance protection gap, which is expected to become even wider given the current climate projections”, according to EIOPA. Although the European market appears to be at a “relatively early stage”, the organisation felt that there is still room for improvement. It referred in particular to the standardisation of the implementation of climate-related adaptation measures in insurance contracts, for example through dedicated risk-based certificates and programs. For more information: https://aeur.eu/f/58s (AD)