CORDIS Project
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This project focuses on designing insurance arrangements that enhance adaptation to multi-hazard climate risks. By integrating financial coverage with strategies for risk reduction, it aims to improve the insurance sector's response to climate change impacts.
Natural disasters cause substantial economic losses, which are expected to increase due to climate change.
The insurance sector plays a central role in managing these risks.
It is thus imperative that insurers accurately assess and address climate risks.
Risk assessment methods currently fall short in accurately understanding climate risks because they focus on single hazards (e.g. floods) instead of correlated multi-hazard risks (e.g. windstorms and floods) affected by climate change.
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