Abstract
This paper discusses the probability of changing frequencies and intensities of extreme weather events and their fmancial aspects. The main concems are with precipitation related events such as rainfall, flooding and drought.Particular attention is given to damage costs and the role of insurance. The recent increase of economie and insured losses may well be an early indication of what climate change has in store. Attribution analyses of damage costs can show what part of the costs is related to increased exposure of people and capital and what part is related to climate change. In Europe, a large part of flood related damage is taken up by governments or stateowned companies and individuals. Under a changing climate regime, the organisation, the geographie scale of covering risk, and the roles of private and public insurance will have to be reconsidered. We argue that new ways of covering the cost of risk mitigation and insurance should be explored. Elaboration of the polluter pays principle and liability approaches in an international context would help to identify ways of dealing with the risk and damage cost related to climate change.
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Bouwer, L.M., Vellinga, P. (2002). Changing climate and increasing costs — Implications for liability and insurance. In: Beniston, M. (eds) Climatic Change: Implications for the Hydrological Cycle and for Water Management. Advances in Global Change Research, vol 10. Springer, Dordrecht. https://doi.org/10.1007/0-306-47983-4_21
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DOI: https://doi.org/10.1007/0-306-47983-4_21
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