Managing the world's top risk of failing climate-change mitigation and adaptation - on the Property Insurance Forum's agenda in Munich

2 June 2016 — Daniela GHETU
"The first priority in dealing with the increased destructive potential of the natural catastrophes should be to invest into loss prevention measures like risk adequate planning of new settlements, better flood protection, less vulnerable building structures, early warning systems. Here the insurance industry has built up a lot of knowhow which can support political decision makers," Prof. Dr. Peter HOEPPE, head of the Munich Re division "Geo Risks Research/Corporate Climate Centre" stated for XPRIMM.

"The 2nd priority is appropriate insurance cover of the event's after prevention measures still existing risks. Such covers themselves can give incentives for risk reduction, if they are based on risk adequate premiums. The 3rd and long term priority is the support of climate change mitigation, by reducing the own emissions, providing covers for low emission technologies, and by investments into climate friendly assets," he added.

As natural catastrophes' destructive potential is continuously growing, not only because of the increased intensity and frequency of the weather related extreme events, but also because of the increased "urbanization" and higher value of the corporate properties, the means to address this challenge - including modern digital technologies -, are the main topic of the 2016 edition of IIF - Property Insurance in the Digital Era. The conference will take place in Munich, on June 20 - 21, ci-organized by XPRIMM and NTT Data, Germany and with the official support of GDV - the German Insurance Association.

Prof. Dr. Peter HOEPPE will talk about the role of the insurance industry in the management of the current top risk "Failure of climate-change mitigation and adaptation". In his view, the insurance industry has a large potential to support both climate change mitigation and adaptation. Mitigation can be supported by custom made insurance policies for investors into clean and climate friendly technologies and thus incentivizing such investments. Insurers on the other hand also can increase their own investments into such climate friendly assets.

Higher insurance penetration against losses caused by weather related disasters itself is part of the adaptation to climate change. Especially support for finding such insurance solutions for developing countries helps them to become more climate change resilient. The expertise of the insurance industry in loss trends, vulnerabilities of different building structures and economic benefits of loss prevention measures can support political entities to get to the right decisions to better adapt their countries, regions and cities to a changing climate.

Attending IIF 2016 - Property Insurance in the Digital Era is free of charge subject to availability. The conference will have a limited number of participants to guarantee an active exchange of opinions and animated discussions. Attendance will be accepted on "first come, first served" basis.

More detail and registration at