More storms, less predictable weather, and higher temperatures - climate change creates new risks. Martin Gansneder from the Allianz Center of Competence for Climate Change explains how individuals and companies can protect themselves.
Why should an insurance company think about climate change adaptation?
We are affected through higher claims, especially in the property insurance, and the variability of these claims is also rising. We could simply adapt our underwriting policies and pricing models, but that would mean that some customers could not afford insurance any more. So, it is in our interest to offer our customers ways to adapt to climate change, avoid excessive losses, and even participate in mitigating climate change.
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