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Designing insurance for climate change

Many natural disaster insurance markets were designed under historical distributions of climate risk that differ from those prevailing today. These differences create challenges for natural disaster insurance markets to mitigate the effects of climate change and also increase demand for innovative policy solutions.

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Fig. 1: Trends in insured losses.

Swiss Re Institute


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I am grateful for helpful discussions with M. Duggan, M. Fowlie, M. Kotchen and J. Shapiro.

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Correspondence to Katherine R. H. Wagner.

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Wagner, K.R.H. Designing insurance for climate change. Nat. Clim. Chang. 12, 1070–1072 (2022).

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