Discussion Paper on the Protection Gap for Natural Catastrophes

The Discussion Paper addresses the issue of a protection gap for natural catastrophes in Europe in light of available evidence about the impact of climate change on the frequency and severity of extreme weather and climate-related events. The paper builds on research conducted by various stakeholders and sets out elements for discussion. In particular, it highlights the potential systemic impact of situations across Europe where a lack of coverage is combined with high exposures compared to the size of the economy and public revenues as well as high levels of public debt. A coherent European approach, involving private and public actors, with a focus on mitigation and adaptation, should address the risks caused by climate change with regard to natural catastrophes in Europe.