SIF Scoping Study: Nature-related Risks in the Global Insurance Sector

The UNDP Sustainable Insurance Forum (SIF) has published the ‘SIF Scoping Study: Nature-related Risks in the Global Insurance Sector’. This study marks a pioneering effort to explore and understand the global insurance sector’s dependence on nature, what nature-related risks could be, and whether and how nature-related risks are financially material to the sector’s underwriting and investing business.  

The SIF members and partners; experts and industry participants have contributed to this scoping study. The study has employed a mixed research methodology and a survey of 108 insurance sector participants from 32 countries, 57 percent of whom were insurers and reinsurers, 10 percent insurance industry associations and 5 percent insurance brokers. It seeks to gauge the financial risks of nature-related loss and assess how insurance supervisors and insurance companies are responding to these risks.

Funded by the Executive Office of the Secretary-General of the United Nations and Sustainable Finance Ireland, this report has been commissioned by the SIF Secretariat, and authored by Prajwal Baral.