EU to launch climate insurance scheme after summer of extreme weather

The European Union will establish a climate insurance alliance to improve coverage for extreme weather losses, addressing the low insurance uptake that leaves national budgets as the insurer of last resort. The initiative follows a summer of extreme heatwaves, wildfires, and droughts and will involve insurers, risk modelers, and public authorities to promote risk-reducing instruments like parametric insurance.

This Wire brief sits within Fusion42's coverage of Climate Tech, and 3 sources have reported it.