INSUREADAPT
Financiado
Public–Private Insurance Partnerships for Adapting to Multi-Hazard Climate Chang...
Natural disasters cause substantial economic losses, which are expected to increase due to climate change. The insurance sector plays a central role in managing these risks. It is thus imperative that insurers accurately assess an...
Natural disasters cause substantial economic losses, which are expected to increase due to climate change. The insurance sector plays a central role in managing these risks. It is thus imperative that insurers accurately assess and address climate risks.
Risk assessment methods currently fall short in accurately understanding climate risks because they focus on single hazards (e.g. floods) instead of correlated multi-hazard risks (e.g. windstorms and floods) affected by climate change. They also insufficiently account for human climate adaptation processes leading to risk reduction, which are characterized by bounded rationality and social interaction. Furthermore, additional insights are needed into how to design insurance arrangements that address climate change and stimulate policyholders to adapt to multi-hazard climate risks by limiting natural disaster damage.
This project aims to design insurance arrangements to enhance policyholders’ adaptation to multi-hazard climate risks by combining financial coverage with comprehensive strategies for stimulating risk reduction. Its interdisciplinary approach goes beyond the state-of-the-art by creating novel multi-hazard climate risk assessments for insurance and by developing agent-based models (ABMs) that account for boundedly rational human adaptation decisions and social interaction. The ABMs evaluate natural disaster insurance arrangements for EU countries with diverse risk contexts and assess strategies for stimulating adaptation by policyholders, based on input from behavioural economic studies. Repeated and real-time surveys and economic experiments will identify comprehensive strategies for triggering behavioural change to stimulate adaptation to the multitude of climate change risks individuals face. These strategies linked to (public–private) insurance combine communication on risk and risk reduction measures, insurance incentives (e.g. deductibles, premium discounts), and nudges.
ver más
Duración del proyecto: 67 meses
Fecha Inicio: 2023-04-03
Fecha Fin: 2028-11-30
Fecha Fin: 2028-11-30
Línea de financiación: concedida
El organismo HORIZON EUROPE notifico la concesión del proyecto el día 2023-04-03
Línea de financiación objetivo
El proyecto se financió a través de la siguiente ayuda:
ERC-2022-COG:
ERC CONSOLIDATOR GRANTS
Cerrada
hace 2 años
Presupuesto
El presupuesto total del proyecto asciende a
2M€
Líder del proyecto
STICHTING VU
No se ha especificado una descripción o un objeto social para esta compañía.
Perfil tecnológico
TRL
4-5
Perfil tecnológico
TRL
4-5