Climate risks : Impact on natural hazards insurance between now and 2040

Climate risks : Impact on natural hazards insurance between now and 2040

Climate risks : Impact on natural hazards insurance between now and 2040
12/12/2016

The increasing frequency and intensity of natural hazards is often cited as an early indicator of climate change. Insurers, using past figures for insurance payments for damage caused by natural hazards having occurred in metropolitan France, have attempted, with the study Climate Change and Insurance (Changement climatique et assurance), to reply to the following question: Is it possible to put a figure on the impact of climate change on insurance between now and 2040 ?

A remark should be made about the time horizon used for this study. Twenty-six years is a short period in climate terms. Nevertheless, this horizon was chosen because putting a figure on the impact requires climate projections to be considered together with projections of social and economic assets and activities at risk. In terms of these latter projections, 26 years is a long time and indeed represents the limit for a credible projection. The period chosen is therefore a compromise.
The study was based on a projection of the socio-economic data (housing and other assets and activities exposed to natural hazards) on the one hand and a climate projection on the other.

Enjeux climatiques

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 Strategic review document : Toward better prevention of and protection against natural hazards

In November 2015, the French Insurance Federation (Fédération Française de l’Assurance - FFA) published a study titled Climate Change and Insurance to 2040 (Changement climatique et assurance à l’horizon 2040)1. It projects the rising cost of natural hazards in France over the next 25 years.

A l'occasion de la COP21, l'Observatoire de la responsabilité sociétale des entreprises (ORSE) et les partenaires fondateurs de Solutions COP21 ont publié un dossier thématique « Mieux assurer et mieux financer pour répondre aux enjeux climatiques ».

Le Livre blanc « Pour une meilleure prévention et protection contre les aléas naturels », publié en décembre 2015, présente 34 propositions concrètes de la profession sur les 2 piliers de la gestion du risque climatique que sont la prévention et l’assurance. Il appelle tout d’abord à une intensification des politiques publiques de prévention et protection. Il propose ensuite des mesures visant à moderniser le régime d’assurance des catastrophes naturelles en France.

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