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Insurer perspectives on climate change adaptation Results of a global survey – A sneak preview UNEP FI December 2011.

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Presentation on theme: "Insurer perspectives on climate change adaptation Results of a global survey – A sneak preview UNEP FI December 2011."— Presentation transcript:

1 Insurer perspectives on climate change adaptation Results of a global survey – A sneak preview UNEP FI December 2011

2 UNEP FI’s approach to insurance and climate change adaptation Insurance industry How is the insurance industry contributing to the climate resilience of economies and communities through its risk management and risk transfer products and services? What are examples of effective solutions and how can these brought to scale? National and local governments What actions by national and local governments are needed by the insurance industry to develop and scale up risk management and risk transfer products and services for vulnerable communities? Intergovernmental process How can the intergovernmental process – specifically the next international climate change regime under the UNFCCC – mobilise the insurance industry to develop, implement and scale up risk management and risk transfer solutions for vulnerable communities, particularly those in developing countries?

3 Highest climate risk in the past 20 years in developing countries

4 Future regional vulnerability of human populations to climate change © McGill University Source: Samson, J. et al. (2011) Geographic disparities and moral hazards in the predicted impacts of climate change on human populations. Global Ecology and Biogeography. Regions with a high CDVI are expected to be most negatively impacted by climate change. The CDVI is based on ecological and demographic models.

5 The insured and uninsured world Overview of property insurance premium per capita Highly insured countries (> USD 1,000 ) Well insured countries (USD ,000 ) Basically insured countries (USD ) Inadequately insured countries (< USD 10) Insurance groups: Source: Munich Re, property insurance premium (non-life including health), per capita in 2008 © 2011 Münchener Rückversicherungs-Gesellschaft, Geo Risks Research, NatCatSERVICE – As at May 2011

6 Survey Background 67 participants 24 countries 56 companies 33 from developed countries; 32 developing countries

7 Question 1 - climate change?

8 Question 3 – insurer action: processes

9 Question 2 – relevance of climate change?

10 Question 4 – insurer action: products

11 Question 7 – making it real.

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13 Question 8 – to do´s for government - locally

14 Question 8 – to do´s for government - nationally

15 Question 8 - to do´s for government - internationally

16 Preliminary conclusions Insurers are already adapting to climate change, across lines of business and internal processes Insurers are already helping societies and economies adapt to climate change These activities can be expanded and up-scaled through public-private collaboration There are ideal roles for local, national and international government bodies to play


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