Staff Paper on Policy options to reduce the climate insurance protection gap

The European Insurance and Occupational Pensions Authority (EIOPA) and the European Central Bank (ECB) have worked together on how to enhance the insurance of European households and companies against climate-related catastrophes. Our joint discussion paper sets out possible actions to increase the uptake and efficiency of catastrophe insurance while creating incentives to adapt to and reduce climate risks.

The ECB and EIOPA would welcome comments and feedback on all aspects of the discussion paper by 15 June 2023.

A workshop with regulators, policymakers, academics, and representatives from the private sector will be held on 22 May 2023.