Insurance, Climate Change and the Law

Franziska Arnold-Dwyer is Associate Professor of Law at UCL, following positions as Senior Lecturer in Insurance Law, Contract Law, and Sustainability and the Director of the Insurance, Shipping, and Aviation Law Institute at the Centre for Commercial Law Studies, Queen Mary University of London. She holds a Ph.D. in Commercial Law and is a qualified solicitor (England and Wales). Her research interests are insurance law and insurance solutions, and in particular the intersection of insurance contract law, insurance regulation, risk governance, and sustainability.

• 1. Introduction 2. Climate change: The science, the international stage, terminology, and boundaries 3. Climate change risks and the role of insurers 4. Climate change risk assessment and regulation 5. Climate-related disclosures 6. Insuring green and not insuring brown 7. Greening insurance 8. Climate-related impact investment and stewardship 9. The role of government and public-private insurance solutions 10. Conclusion: Insurers as climate action enablers

‘This is an outstanding and innovative book from one of the UK’s leading academic insurance lawyers. The relationship between climate change and insurance is much discussed but this is the first comprehensive study, covering the international regime governing climate change, the liabilities that may arise and their insurability, the development of new insurance products and the incidence of public-private solutions to large scale losses. Fascinating reading for insurers, lawyers, brokers, academics and indeed scientists.’Prof. Robert Merkin KC, Professor of Law, University of Reading and Special Counsel, Duncan Cotterill, UK‘This book is an essential and comprehensive reference guide for anyone in the insurance industry who is interested or involved in the intersection of insurance and climate change. It provides thought-provoking views on the role of the insurance industry in addressing the global threat of climate change.’Julian Enoizi, Chief Executive Officer, Guy Carpenter Europe, UK‘Dr. Arnold-Dwyer's book is one of those for which the reader has been urgently waiting. For the first time, the triangular relationship of insurance, law and climate change is comprehensively discussed. With scholarly thoroughness, the interplay of these three elements is fundamentally examined. On this basis, important impulses are given for combating climate change through insurance. Quite simply, a must read.’Prof. Dr. Dr. h.c. Helmut Heiss, Professor of Private Law, Comparative Law and International Private Law, University of Zürich‘Insurance is both an underlying engine of many economies and also a key financial market for tackling climate change. This book lays out how insurance companies can act upon climate change both through the policies they write and the investments they make. Importantly the book is grounded in a legal framework that explains how the contractual relationships and regulatory obligations of insurance companies can also be used to leverage action on climate change. I expect it to be an important resource for scholars and policymakers on this very topical issue.'Prof. Paula Jarzabkowski FBA, Professor of Strategic Management UQ Business School, University of Queensland and Bayes Business School (formerly Cass), City, University of London