Liability Issues Related to Climate Risk - Risk Management Special Contribution 5

The issue of a potential liability of insurers related to climate risk has taken on a dynamic which only few had foreseen. Yet one lesson which risk experts had learnt from 9/11 was that risk management has to focus on "think the unthinkable".

The two following in-depth papers apply this maxim to the topic of climate risk liability. However, this topic is no longer unthinkable, and is not even an emerging risk. It has within a very short time become a "risk iceberg", a real hazar d of which only a minor part is visible, but the shape and size of the iceberg remain unknown.