[Video Replay] A safe transition for insurers – A Finance Watch webinar

Panel 1 – Tackling climate risk through transition planning

Panel 2 – Tackling the insurance protection gap

Outline of the event

Climate change remains an ever increasing global challenge. As the world suffered through the hottest summer ever recorded, we are once again confronted with the urgency to safeguard our communities and economies from a looming disaster.

The global insurance sector has a front-row seat: insurers are particularly exposed to climate risk but are also potential stewards of the net-zero transition.

In light of Finance Watch’s recommendations for a safe transition for insurers, we invite civil society, regulators, supervisors and industry representatives to join us in a two-panel roundtable discussion highlighting the impact of climate change on the insurers’ business models and role of the insurance sector in the transition to a sustainable economy.

Our first panel will focus on using transition plans in climate risk management: As Europe is considering amending the Solvency II rules accordingly, our guests will discuss the proposed provisions and mirroring this initiative at the international level.

After a short break, our second panel will focus on the consequences of rising uninsured losses for consumers, the so-called protection gaps, and its increasing burden on society and governments who ultimately carry the burden of climate-related damages.

By bringing together supervisors, CSOs, industry representatives and experts, Finance Watch aims to support inclusive coordinated efforts towards a more sustainable insurance sector.