Climate Change Adaptation and Disaster Risk Management - Current Practices and Future Perspectives for the Insurance Industry - Summary Report

Oct 22, 2026

Uploaded by gewufjwa

A summary report distills key findings from the original analysis on how the insurance industry can be integrated into national climate change strategies. It examines climate change impacts on risk environments, highlights challenges created by more frequent and severe extreme weather, and outlines fundamental insurance functions supporting climate resilience. The report also emphasizes public-private collaboration, innovative risk identification and diversification, and solutions that help households and businesses manage disaster losses while supporting net-zero transitions.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages18

Reading Time45 min

AccessFree to download

Introduction

Climate change as a significant global risk

Insurance industry roles in mitigation and resilience

Progressive Global Climate Change and Its Impact on the Insurance Industry

UN IPCC findings and projected warming

Rising frequency and severity of extreme events

Implications for insurance responsibilities and compensation pressure

CLIMATE CHANGE ADAPTATION AND DISASTER RISK MANAGEMENT: CURRENT PRACTICES AND FUTURE PERSPECTIVES FOR THE INSURANCE INDUSTRY SUMMARY REPORT This Summary (in English) was prepared by the Risk Lighthouse Team: Shaun Wang, Esther Yang, Joey Zhou Climate Change Adaptation and Disaster Risk Management: Current Practicesand Future Perspectives for the Insurance Industry This summary presents key findings and highlights from the original report “Adaptation to Climate Change and Disaster Risk Management: Current Practices and Future Perspectives for the Insurance Industry”, which was officially released on 12 July 2024 in Shenzhen, Guangdong Province, China. The original report focuses on how the insurance industry can be integrated into national climate change strategies and contribute to society’s climate resilience. It provides a multi-perspective analysis of how the insurance industry can transform climate change challenges into development opportunities. The original report was supported by the Ping An Insurance （Group）Company of China, Ltd (hereinafter referred to as "Ping An") . It was a collaborative effort among five organisations: Southern University of Science and Technology, Tsinghua University, Ping An, Risk Lighthouse International Pt Ltd, and Ernst & Young (China) Enterprise Consulting Co. The authors of the original report are Professor Shaun Wang, Professor Chen Bingzheng, Sheng Ruisheng, Long Quan, Chen Yao, Ma Nan, Esther Yang (United States), Associate Professor Joey Zhou (Singapore), He Weiming, Qu Mingliang, Shi De, Jing Mingzhou, Xin Wei, Zhang Jia. The Risk Lighthouse team contributed to the original report. The team provided this English summary for the benefit of an international audience. 1 Climate Change Adaptation and Disaster Risk Management: Current Practicesand Future Perspectives for the Insurance Industry Introduction Climate change has become the most significant risk to our planet and human prosperity. Its impacts are now evident and are profoundly altering our risk environment: rising temperatures and sea levels, more frequent and prolonged heatwaves, increased storms and rainfall, floods, wildfires, and other extreme weather events. Since the 1980s, the international community and the insurance industry have recognized the threat of climate change and have been analyzing its impacts on society and the insurance sector. The global insurance industry has been collaborating with various sectors including governments, to actively take joint action to mitigate climate risk and to provide insurance solutions for those risks that can not be mitigated. For the many households and businesses facing potential natural disaster losses (including those caused by climate change), the insurance industry offers solutions to protect them from the financial losses caused by natural disasters, and to help them to recover quickly and adapt to climate change. The insurance industry is also helping to drive continued growth and investment in the renewable energy sector by minimizing the risks associated with renewable energy and infrastructure projects and providing innovative solutions for the transition to a net-zero economy. Especially when it comes to the most pressing issues of how to drastically reduce carbon emissions to address the root causes of climate change and how to adapt to the inevitable and destructive consequences, no single industry or region can tackle these challenges alone. Only through public-private collaboration can these challenges be met. In this collaboration, the insurance industry undoubtedly demonstrates its unique value and responsibility. Just as the insurance industry has played a significant role in mitigating losses from disasters such as fires and earthquakes, the public now expects the industry to be forward-thinking in addressing emerging climate risks. The industry is expected to leverage its vital and irreplaceable roles in risk identificati

FAQs

What is the main purpose of this summary report?

To present key findings and highlights from the original report on adapting to climate change and managing disaster risk in the insurance industry.

How does climate change affect the insurance risk environment according to the report?

It increases the frequency and severity of extreme weather events and disrupts economic and social operations, creating stronger disaster-related risk pressures for insurers.

What solutions does the insurance industry provide for climate- and disaster-related losses?

It offers insurance solutions that protect households and businesses from financial losses and help them recover quickly while also supporting broader climate resilience and net-zero transition goals.

Oct 22, 2026

Uploaded by gewufjwa