What happens when climate disasters strike, and insurance can’t keep up?

Across Europe, floods, heatwaves, and storms are intensifying, yet only a quarter of natural catastrophe losses are insured.

The European Central Bank (ECB), in collaboration with the European Insurance and Occupational Pensions Authority (EIOPA), has proposed a groundbreaking climate insurance scheme.

Designed as a public-private partnership, this initiative aims to close the widening protection gap, safeguarding economies and citizens alike.

Is this the financial shield Europe needs to weather the climate crisis?