Towards a European system for natural catastrophe risk management

This paper proposes a possible EU-level solution to address the widening gap in natural catastrophe insurance protection in Europe. Increased economic exposure and the growing frequency and severity of natural catastrophes linked to climate change have been driving up the cost of natural catastrophes in Europe. Between 1981 and 2023, natural catastrophes caused around €900 billion in direct economic losses within the EU, with one-fifth of these losses having occurred in the last three years alone. However, over the same period, only about

Source: op.europa.eu