ESG und Nachhaltigkeit für Versicherungsunternehmen

S. 3341. Introduction

Insurance protection gaps for natural catastrophes highlight the challenges of our society in dealing with increasingly interconnected hazards. These expose a societal fragility in the face of the unprecedented frequency and severity of natural disasters, which disrupt essential services, strain economies, and increase pressure on governments to intervene.

Considering the significance of these protection gaps, it is essential to address the broader underlying societal issues: the insurability of the risks, the limited capacity of the public finances, citizens' lack of risk awareness, and the ageing infrastructure. Closing these protection gaps demands a more comprehensive discussion on governance and resilience.

This article aims to contribute to structuring this discussion. It starts by presenting the drivers of the natural catastrophe insurance protection gap. The article then highlights the importance of insurance solutions for addressing natural catastrophe risk, and the role supervisors can play in identifying the risks and opportunities for action. The article continues on how insurers, governments and insurance supervisors can address these gaps in concerted act...