We are proud to announce that our project SOTERIA (Solutions Testing for Regions through Insurance for climate Adaptation) was recently awarded a Horizon Europe grant to develop and test new insurance products to increase Europe’s resilience and preparedness to face unavoidable consequences of climate change.
By joining SOTERIA, G&Co will deepen strategic partnerships and be part of leading in the development of new insurance products for multiple climate risks such as drought or spring frost for the agricultural sector. The project aims to prevent the protection gap from widening further. As some risks may become too costly to insure by conventional measures, we plan to introduce non-life insurance products that reward proactive prevention measures whilst seeking to increase cover through affordable and effective innovative insurance solutions.
The EU taxonomy highlights that insurance can contribute to climate change adaptation by providing non-life insurance products that promote new or improved technologies, practices, nature-based solutions, and governance processes that enhance uptake of or remove barriers to adaptation. We will support programmes such as the EU Green Deal by sharing best practice and innovative solutions through stakeholder dialogues and cross-over private-public innovation pilots in different European regions and communities.
The project participants include leading insurance companies from throughout Europe such as Allianz, Gjensidige, CCR Group, KLP, Croatia osiguranje d.d., DZI Insurance, KBC Group.
We look forward to this exciting journey, led by BC3 – Basque Centre for Climate Change, and the ensuing collaboration with a set of brilliant researchers and experts from ICATALIST, Hochschule Weihenstephan-Triesdorf, Helmholtz Centre for Environmental Research (UFZ), SINTEF, AQUATEC, National Center for Scientific Research Demokritos and more.
For more information, please contact us.