Insurance Climate Change and The Law


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Greening insurance1

This chapter contains the second part of climate-related impact underwriting. It is concerned with ‘greening insurance’ – insurance products and services that shift policyholders’ behaviour and processes towards taking climate change mitigation and adaptation measures. The enabling conception pictures the insurance industry as supporting policyholders in their net-zero transition. Green insurance products can incentivise policyholders to reduce their GHG emissions and take climate change adaptation measures that make them more resilient to climate change effects that are already felt. Insurers can assume and deliver their enabling role through the pre-contractual and contractual relationship between an insurer and its policyholder. Green insurance products are not newly invented types of cover but introduce green features and objectives to established insurance products.

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