Insurance regulators and standard-setting bodies are increasingly focused on devising methodologies for climate risk assessment and scenario analysis to support the insurance industry in dealing with the potential impacts of climate change. This issue brief produced by the Geneva Association Task Force on Climate Change Risk Assessment for the Insurance Industry, offers a review of the activities of 12 international, regional, national and sub-national financial services regulatory bodies and their associated strengths and challenges. 

As evidence of climate change mounts and the world transitions to net zero, climate liability risks are evolving, too, with climate-related litigation cases increasing in number and ex

This first report by the Geneva Association Task Force on Climate Change Risk Assessment for the Insurance Industry offers a decision-making framework for climate risk assessment and scenario analysis for P&C and life re/insurers. The analysis considers all physical and transition climate change risks for the liability and asset sides of the balance sheet, by line of business and over distinct time horizons and serves as a foundation for the Task Force’s work to drive future developments in this space.

Part of a comprehensive review of flood risk management in five mature economies, this report reveals many successes in the Australian system, including high-quality national and state guidelines and frameworks for FRM activities, climate change adaptation efforts, a commitment to building back better and high levels of insurance penetration.