Climate-related disasters such as floods, hurricanes, and wildfires have become increasingly frequent and severe in recent years, resulting in substantial economic losses and human suffering. Brazil, a country marked by its diverse climate and geography, has experienced a significant share of these events, with profound effects on both its population and economy.

In light of this scenario, the Fundação Getulio Vargas (FGV), through its Institute for Innovation in Insurance and Reinsurance (FGV IISR), organized a webinar on June 20, 2023, at 10:00 AM (BRT) to initiate a dialogue on the role of insurance and reinsurance in managing the risks of natural catastrophes associated with climate change in Brazil.

The event featured a keynote presentation by Dr. Franziska Arnold-Dwyer, from Queen Mary University of London, as well as contributions from leading professionals in the field. The discussions focused on the extent to which insurance instruments can provide financial protection against climate-related risks. Dr. Arnold-Dwyer presented on the use of catastrophe bonds (cat bonds) as a mechanism for strengthening climate resilience. The webinar also sought to identify potential areas for collaborative research on Climate Change and Insurance between FGV IISR and Queen Mary University of London.

Key questions addressed during the session included:

• What is the role of the insurance industry in responding to the climate emergency?
• What are the main challenges and opportunities in offering insurance coverage for natural disasters?
• What is the relevance of reinsurance and insurance-linked securities in managing climate catastrophe risks?
• How can insurance support risk management, risk adaptation, and risk mitigation in the context of climate change?
• How can insurance protection gaps related to climate risks be addressed and prevented?

Simultaneous interpretation was available during the event.

Access the speaker’s presentation .

Keynote Speaker
Dr. Franziska Arnold-Dwyer
Senior Lecturer in Insurance Law, Contract Law and Sustainability; Solicitor (England and Wales); Director of the Institute of Insurance, Shipping and Aviation Law; Deputy Director of the Queen Mary UNIDROIT Institute of Transnational Commercial Law

Panelists

• Diogo Ornellas, General Coordinator for Major Risks and Reinsurance, SUSEP
• Cassio Gama Amaral, Partner, Machado Meyer Advogados
• Francis Bouchard, Managing Director for Climate, Marsh McLennan
• Marcelo Mansur, Partner, Mattos Filho Advogados; Professor at FGV EAESP
• Pedro Farme, CEO Brazil, Guy Carpenter
• Gil Correia Kempers Vieira, Secretary for Civil Protection and Defense, Municipality of Petrópolis

Moderator
Gesner Oliveira, Professor, FGV EAESP