The Institute for Innovation in Insurance and Reinsurance of the Getulio Vargas Foundation (FGV IISR), in collaboration with the International Association of Insurance Law (AIDA), held on October 8, in São Paulo, the roundtable Insurance and Climate Crisis. The event, which was coordinated by Eugenio Montoro, a professor at the School of Business Administration of São Paulo (FGV EAESP) and lawyer Gustavo Leon from AIDA, brought together several experts from different sectors of the insurance industry in the Noble Hall of FGV EAESP to discuss the topic.

In the dynamics of the round table, the participants raised aspects about climate catastrophe insurance, which were debated among the experts themselves. In total, the event brought together 51 specialists, representing 21 insurers and reinsurers. Among the institutions that were present at the debate were FGV professors, lawyers who work in the insurance area, as well as representatives of the National Confederation of Insurers (CNSeg) and the Superintendence of Private Insurance (SUSEP).

During the roundtable, participants analyzed how insurance can help repair the effects of damage caused by extreme weather events such as floods, floods, prolonged drought, among others. It was also discussed which environmental risks are usually covered by the insurance policies existing in the market in view of the current regulations, and the insurance for climate risks and those that cover environmental damage such as rural, property or even road concession contract insurance. The experts also analyzed the government's responsibility to assume the repair of environmental damage, with insurance being an additional instrument to mitigate damage.

Meeting in Rio de Janeiro

On July 31, FGV IISR brought together researchers and professionals from the market, government and regulatory agencies in Rio de Janeiro at a round table to analyze the use of insurance as an instrument to mitigate damage caused by extreme weather events. On the occasion, several aspects of the climate insurance currently provided for in several countries were commented, through the presentation of research results that is being developed by Columbia University (USA).