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Centre for Commercial Law Studies

What should insurers do about extreme weather events? Expert interview

Dr Franziska Arnold-Dwyer speaks to Institute for Innovation in Insurance and Reinsurance about climate change and the insurance industry.

Flooded apartment complexes

Climate Change is changing the insurance industry, which is not just firefighting the effects, for example of extreme weather events, but should also help to make the world more resilient.

Dr Franziska Arnold-Dwyer is Director of the Insurance, Shipping and Aviation Law Institute and a researcher at Queen Mary University of London.

She said: “What I noted at COP28 – compared to previous COPs – is that insurance is now becoming an established part of the toolkit to respond to the threat of climate change. Most notably, the agreement on the operationalisation of the new Loss and Damage Fund reached at the start of COP28 expressly references ‘insurance’ as one of the financial instruments through which funds can be deployed. There were numerous COP28 events in which the role of the insurance sector in climate change adaptation and resilience building were discussed.”

Read the full interview on Institute for Innovation in Insurance and Reinsurance.



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