The European Union’s resilience to climate-related economic losses is not a given. It reflects the myriads of decisions and choices made over time, in different circumstances and with different priorities as well as the decisions being made now and those yet to be made. Making the informed decisions on where to allocate limited time, effort and money in to reduce risk and protect things of value is crucial. Our ability to reduce the share of potential economic losses from climate change occurring to uninsured assets and activities – the climate protection gap – will determine a large part of our societies’ resilience. The term ‘climate protection gap’ is used in reference to the share of non-insured economic losses in total losses after a climate-related catastrophe event. In recent years, it has also been used to refer to the notional gap between likely climate-related impacts and existing resilience measures. This Commission staff working document is part of the knowledge base underpinning the 2021 EU Climate Adaptation Strategy, and some of the measures to close the climate protection gap that will be undertaken in the context of the upcoming Renewed Sustainable Finance Strategy. It may be relevant for other policy- and decision-makers on adaptation issues at national, regional and local level.