Climate Change, Insurance and Vulnerable Populations

The IAA (Resource and Environment Working Group) released a Discussion Paper


The primary objective of this paper is to provide useful information concerning the extent to which private- and public-sector insurance can, using appropriate tools and models, address the needs of vulnerable populations regarding the adverse effects of climate change.

The message provided by this paper is that private- and public-sector insurance programs can play a key role in addressing climate-related risks, though some of these programs have inherent limitations and cannot work effectively by themselves in all circumstances.

Climate change has had and will increasingly have a wide range of effects on property, human health, quality of life and economic activity. Although some may be favourable in nature, the focus of this paper is on the adverse effects, who they will affect and how these consequences can be mitigated.

Although climate change will affect many individuals and businesses, the main focus of this paper is on those who are most vulnerable to its adverse consequences.