Speakers
Objectives of the session
Supervisors are assessing on an ongoing basis US, European and national insurers’ exposure to physical climate change risks. More generally they are outlining the appropriate climate risk disclosures, stress testing approaches and scenarios, and working out climate related risk modeling in both underwriting and investments.
In addition, supervisors, globally, consider how to foster innovative insurer solutions to address climate risk and resiliency, stimulate insurance product innovation directed at reducing, managing and mitigating climate risk, and closing protection gaps.
All these efforts regarding disclosures, and risk assessment and mitigation are as much as possible coordinated and made consistent at the global level by the IAIS.
The session in this context is intended to depict the actual exposure of the insurance sector to sustainability risk, notably climate related ones, and to take stock on the progress made globally to measure and mitigate them, and finally understand what initiatives are making that the role of insurance companies may play to accelerate the transition, is gaining momentum.
Points of discussion
- What are the level and extent of the current sustainability risks faced by the insurance sector in the EU and related risk assessment and mitigation challenges ahead?
- What is the contribution of the insurance sector to an optimal adaptation of the EU economy?
- How can regulation and supervision improve the resilience and the contribution of the insurance sector?