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Consultation on an awareness tool for natural catastrophe risks

By Knowledge Network – Staff memberPublished on

EIOPA has launched a consultation on a new tool to raise awareness of natural catastrophe risks and improve risk preparedness. Stakeholders are invited to provide feedback on its design and functionality.

Climate change triggers more intense and frequent natural hazards such as heatwaves, storms, floods, and droughts. This is making current and future homeowners more exposed to climate-related damages, and can lead to higher home insurance premiums over time. Increasing citizens’ awareness about natural hazards and climate risks becomes increasingly relevant for citizens and insurers alike.

In this context, EIOPA is proposing the development of an awareness tool that can be used by all Europeans to better understand the potential impacts of climate change on their properties. 

EIOPA outlines the key information that should be made available in the tool, including:

  • The risk score to natural hazards of a property based on its location
  • Risk prevention measures available for the most common types of perils
  • Measures related to insurance coverage, providing information on the importance of being aware of exclusions, on potential national insurance schemes in place for natural catastrophes, among others.

Respond to the consultation

EIOPA invites stakeholders to provide their feedback on the Consultation Paper by responding to the questions via the online survey no later than 28 February 2025.