Improved disaster risk pricing assessment

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Open Call Reference: HORIZON-CL3-2022-DRS-01-06

Natural disasters (weather and climate related extremes and geological events) in the EU have cost on average EUR 17 billion per year the past ten years. Around 35 % of the total losses from climate and extreme and weather events are insured today in the EU, although the proportion of the insured losses ranges from 1 % in Romania and Lithuania to about 60 % in Belgium.

Questions remain about the limits of insurance in tackling fast-rising threats – not only how people at highest risk and with lower incomes can afford it, but whether insurance models can cope with much more frequent and destructive. Rethinking insurance payouts, giving homeowners clearer information on potential risks – using simple online tools, or providing data at the time of house purchases – may also be the way forward more resilient communities.

-Contribute to the public accessibility of fiscal data and information related to disaster risks
-Development of an EU-wide/international standard on how to monetise and account intangible values from Climate Change Adaptation and Disaster Risk Reduction measures
-Risk model development for future natural catastrophe events
-Development of European stress-testing scenarios including vulnerable hotspots and uninsurable risks

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