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Insurance of natural and man-made disasters

Green Paper on the Insurance of Natural and Man-made Disasters – 16.04.2013

The European Union is vulnerable to nearly all types of natural disasters. Natural disasters cause human losses and damages, affecting economic stability and growth. They may have cross-border effects and can threaten entire areas in neighbouring countries. Even where costs of major disasters are locally concentrated, if costs are inadequately covered by insurance then individual Member States may carry large fiscal burdens, which could cause internal and external imbalances.

Man-made disasters, such as industrial accidents involving dangerous substances, can have large-scale and cross-border impacts. Man-made disasters can be triggered by natural disasters. Such disasters can occur more often due to the increased frequency of extreme natural events and the increased complexity of industrial systems.

The objective of the Green Paper is to launch a consultation with stakeholders. Its objective is to raise awareness and to assess whether or not action at EU level could be appropriate or warranted to improve the market for disaster insurance in the European Union. All interested parties are invited to submit their views in response to the questions contained in this Green Paper. The deadline for responding to this consultation has been extended to Monday 15 July 2013.

The Green Paper accompanies the Communication entitled “An EU strategy on adaptation to climate change”.


Conference on prevention and insurance of natural catastrophes – 18.10.2011

The European Commission (Directorate General Internal Market and Services) has hosted a conference "Prevention and Insurance of Natural Catastrophes" in Brussels on 18 October 2011.

The conference brought together policy makers, regulators, consumers, experts representing re/insurance industry, re/insurance intermediaries, loss adjusters as well as academia. The aim of the conference was to explore the role of insurance in tackling natural catastrophes.

Panel I – Setting the scene

Panel II – Insurance availability

  • Moderator: Gabriel BERNARDINO (Chairperson, EIOPA)
  • Opening:Kristalina GEORGIEVA (Commissioner in charge of International Cooperation, Humanitarian Aid, and Crisis Response)

Panel III – Public-private interaction

  • Moderator: Ulf LINDER (Deputy Head of Unit, Insurance and Pensions, DG Internal Market and Services, European Commission)

Panel IV – Natural catastrophes and insurance value chain

  • Moderator: Karel VAN HULLE (Head of Unit, Insurance and Pensions, D Internal Market and Services, European Commission)