Thematic Plenary: Will the insurance system protect Europe ?

Description

More than one-third of weather-related insured losses over the past two decades can be attributed to climate change. The share of climate-related losses covered by insurance rose from 31% to 38% between 2002 and 2022 (Insure Our Future, 2024). In Europe, only a quarter of the €900 billion in losses caused by natural disasters (including non-weather-related events) between 1980 and 2024 were covered by insurance (EIOPA, 2025).

This growing “insurance protection gap“, which has widened over the past decade, is deepening inequalities in the face of climate change (EIOPA, 2025). The increasing intensity and frequency of climate-related disasters are driving up reinsurance surcharges, which in turn raise the cost of coverage for policyholders. As a result, some territories deemed too exposed are losing insurer support, while the poorest households are forgoing insurance against natural disasters. In this context, where the private insurance system’s ability to cover climate risks is showing its limits, pressure is mounting on governments to step in and cover insurers’ liabilities and compensate victims of climate-related damages (EIOPA & ECB, 2024; Viennot et al., 2025).

By embedding the principles of “climate resilience by design” and “build back better” across all public policies, the next European Adaptation Plan offers an opportunity to shift the insurance model from a logic of incremental prevention and reactive compensation to one of transformative adaptation. Between responsibility and solidarity, prevention and insurance, public and private sectors—how can we bring about a fairer climate risk pooling model that is focused on adaptation?

Speakers

• Luc BAS, Director of CERAC (Centre for Climate Change Risk Analysis)
• Dominique GOLDSZTEJN, Vice-President of Urgence Maisons Fissurées
• Nicolas JEANMART, Head of Personal and General Insurance, Insurance Europe

Moderator: Aurélie MÉZIÈRE, Mayor of Plessé