Botzen Lab

Research focus

ERC Consolidator Grant · 2022

Public–Private Insurance Partnerships for Adapting to Multi-Hazard Climate Change Risks

Natural disasters cause substantial economic losses, which are expected to increase due to climate change. The insurance sector plays a central role in managing these risks. It is thus imperative that insurers accurately assess and address climate risks. Risk assessment methods currently fall short in accurately understanding climate risks because they focus on single hazards (e.g. floods) instead of correlated multi-hazard risks (e.g. windstorms and floods) affected by climate change. They also insufficiently account for human climate adaptation processes leading to risk reduction, which are characterized by bounded rationality and social interaction. Furthermore, additional insights are…

From the public funding record at EU CORDIS. Describes the funded project, not the reviews below.