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EU climate resilience framework: impacts and role for the insurance sector​

Day 1 Afternoon

Wednesday 16 September

Location :

ROOM 2

Speakers

Public Authorities
Ugo Bassi
Director, Banking, Insurance and Financial Crime - DG for Financial Stability, Financial Services and Capital Markets Union, European Commission
Damian Jaworski
Executive Director - European Insurance and Occupational Pensions Authority (EIOPA)
Michael J. McGrath
Assistant Secretary General with Responsibility for the Financial Services Division - Department of Finance, Ireland
Maria Sofia Mourtzini
Deputy Head of Directorate of Financial Policy - Ministry of Finance, Greece
Industry Representatives
Anthony Brennan
Chief Executive Officer - Zurich Insurance Ireland
François Coste
Group Sustainability Director - Groupama
Shree Khare
Senior Director, Analytics and Modeling, Insurance Solutions - Moody's

Session overview

Objectives

The objectives of this roundtable are threefold. First, to assess the concrete impacts of the forthcoming framework on the insurance sector, from resilience by design and common baseline scenarios to data access and prudential treatment. Second, to clarify the role insurers can realistically play within the EU’s resilience architecture, as risk carrier, prevention incentive, early-warning signal, advisor and, where markets reach their limits, partner to public schemes. Third, drawing on the contrasting experiences of Ireland, Greece and Italy, to identify where coordinated EU action adds value over national approaches, and what insurers and Member States need from the framework, in data, prevention conditionality, proportionate rules and flexibility, to keep climate risks insurable, affordable and fairly shared.

Points of discussion

  1. What are the impacts of the EU climate resilience framework on the insurance sector? What are the changes anticipated for insurers?

  2. What are the respective roles and shared responsibility of the public and private sectors: the various national models and the case for EU action?