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8. Insurance and Other Financial Services
Contents
Executive Summary
8.1. Introduction
8.2. Climate Change and Extreme Events that are Relevant
to the Financial Services Sector
8.2.1. Present-Day Conditions
8.2.2. Attribution Analyses of Loss Trends
8.2.3. Climate Events that are Relevant to the Insurance
and Other Financial Services Sectors
8.3. Private and Public Insurance
8.3.1. Major Market Segments: Property/Casualty and Life/Health
8.3.2. Risk Sharing between the Private and Public Sectors
8.3.3. Insurers' Vulnerability and Capacity to Absorb Losses
8.3.3.1. Quantifying Vulnerability and Adaptive
Capacity
8.3.3.2. Natural Catastrophes and Insurer Solvency
8.3.3.3. Vulnerability of Reinsurers
8.3.3.4. Regulatory Uncertainties
8.3.3.5. Vulnerability of Local, State, and Federal Governments
as Providers of Insurance and Relief Assistance
8.3.4. Adaptation
8.3.4.1. Adaptation Mechanisms: Risk Spreading
8.3.4.2. Adaptation Mechanisms: Risk Reduction
8.4. Impacts and the Role of the Banking Industry
8.4.1. Climate Change Impacts
8.4.2. Adaptation Issues
8.4.3. The Role of UNEP Financial Services Initiatives in
the Climate Change Debate
8.5. Special Issues in Developing Countries
8.5.1. Statistics on Disasters
8.5.2. Disaster Relief
8.5.3. Natural Disasters and Development
8.5.4. Vulnerability and Financial Adaptation in Developing
Countries
8.6. Issues that are Related to Funding for Adaptation
8.7. Future Challenges and Research Needs
Acknowledgments
References
Pier Vellinga (the Netherlands) and Evan Mills (USA)
Lead Authors:
G. Berz (Germany), L. Bouwer (The Netherlands), S. Huq (Bangladesh), L.A. Kozak
(USA), J. Palutikof (UK), B. Schanzenbächer (Switzerland), G. Soler (Argentina)
Contributing Authors:
C. Benson (UK), J. Bruce (Canada), G. Frerks (The Netherlands), P. Huyck (USA),
P. Kovacs (Canada), A. Olsthoom (The Netherlands), A. Peara (USA), S. Shida
(Japan)
Review Editor:
A. Dlugolecki (UK)
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