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Risk Management and Climate Change: A Question of Insurability

  • Lars KrauseEmail author
  • Terence Onang Egute
Chapter
  • 854 Downloads
Part of the Environmental Protection in the European Union book series (ENVPROTEC, volume 4)

Abstract

In the recent past, the world has experienced an increasing trend of devastating environmental disasters. The scientific community has agreed that the frequent occurrence of these disasters is closely related to anthropogenic climate change. The victims of environmental disasters—whether from the private or public sector—often face enormous damages. The Western world often tries to cover potential damages by means of insurance. But this only works in very few cases. Existing insurance policies may cover only an insignificant part of the enormous damage. As a result, concern has arisen with respect to the insurability of climate change environmental disasters. This paper aims at clarifying the question of whether and under what circumstances it is possible to secure the risks caused by climate change environmental disasters through risk management. It also highlights the role of different actors within risk management.

Keywords

Risk Management Insurance Industry Insurance Contract World Economic Forum Climate Catastrophe 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer-Verlag Berlin Heidelberg 2014

Authors and Affiliations

  1. 1.Department of Civil Law and Public Law with References to the Law of Europe and the EnvironmentBrandenburg University of Technology (BTU) Cottbus-SenftenbergCottbusGermany

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