European mutual insurers association welcomes EC report on climate resilience

The Association of Mutual and Insurance Cooperatives in Europe (Amice) has given its backing to the recently published interim report from the European Commission’s Climate Resilience Dialogue.

The EC’s initiative is aimed at reducing the climate protection gap and identifying ways in which the insurance industry can invest in and contribute to climate adaptation.

The Climate Resilience Dialogue comprises EIOPA, and European and global bodies including the World Bank and UN.

Amice has a seat on the Dialogue’s two sub-groups – insurance underwriting and solutions, and adaptation investment.

According to Amice, the interim report provides a “blueprint” on how the insurance industry, policy holders and public bodies can cooperate to achieve these aims.

“By coming together like this, the Dialogue provides a forum where we can hear the various views on the impact of climate change to different groups, and start, as a united group, to fully understand what society needs, and tackle these challenges,” said Sarah Goddard, Amice secretary general.

Goddard said that the association is working on a “leave no-one behind” principle in its approach to closing the climate protection gap, adding that despite the work already done, the recent weather-related events in Europe have shown that more can be done.

The final report is expected to be published in the summer of 2024.