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Better Understanding Insurance Mechanism in Dealing with Climate Change Risk, with Special Reference to China

Author

Listed:
  • Feng Kong

    (College of Humanities and Development Studies, China Agricultural University, Beijing 100083, China
    Center for Crisis Management Research, Tsinghua University, Beijing 100084, China)

  • Shao Sun

    (National Climate Center, China Meteorological Administration, Beijing 100081, China)

Abstract

Climate change risk has become an important challenge for global sustainable development. The insurance industry can play an important role in coping with the increasingly severe climate change risk. This paper first describes the increasing climate change risk and the difficulties of the insurance mechanism in dealing with it. Then this paper summarizes the international practice of using the insurance mechanism to deal with climate change risk from ten different aspects. Based on the summary of the role of the insurance mechanism in dealing with this risk in developing countries, this paper puts forward the main application areas for climate change risk insurance and discusses the policy implications of developing climate change risk insurance in China.

Suggested Citation

  • Feng Kong & Shao Sun, 2021. "Better Understanding Insurance Mechanism in Dealing with Climate Change Risk, with Special Reference to China," IJERPH, MDPI, vol. 18(6), pages 1-14, March.
    • Handle: RePEc:gam:jijerp:v:18:y:2021:i:6:p:2996-:d:516953
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    References listed on IDEAS

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    Cited by:

    1. Feng Kong, 2021. "How to Understand the Role of Insurance Mechanism in a Global Pandemic?," IJERPH, MDPI, vol. 18(13), pages 1-11, June.
    2. Feng Kong & Yifei Wang, 2022. "Better understanding of climate catastrophe insurance in China: issues and opportunities, international insights, and directions for development," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 114(3), pages 2969-2990, December.
    3. Yan Chen & Hao Hou & Yao Li & Luoyang Wang & Jinjin Fan & Ben Wang & Tangao Hu, 2022. "Urban Inundation under Different Rainstorm Scenarios in Lin’an City, China," IJERPH, MDPI, vol. 19(12), pages 1-18, June.

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