EU to launch Climate Insurance Alliance to close growing protection gap after extreme temperatures

The European Commission plans to launch a Climate Insurance Alliance to close the protection gap where only 25% of climate-related economic losses are insured in the EU. The alliance will unite public authorities, insurers, investors, and risk modelers to expand insurance coverage and develop risk-transfer mechanisms including group and parametric insurance models.

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