In this paper, launched to coincide with New York Climate Week
2023, we combine the expertise of WTW's Susan Doering and
Michelle Radcliffe (Corporate Risk & Broking and Insurance
Consulting & Technology respectively), along with Martin
Lockman, Climate Law Fellow at the Sabin Center for Climate Change
Law and Associate Research Scholar at Columbia Law School, to focus
on the relatively less well documented impact of climate litigation
on the insurance market. As regulators, shareholders, and investors
increasingly focus on the risk of climate litigation, it is crucial
for (re)insurers to understand their potential exposure to climate
litigation across different lines of business.
The paper aims to help non-life (re)insurers understand the
scope of private sector climate litigation, highlight its potential
impact on different policy lines, and present (re)insurers with an
overview of coverage considerations, risk assessment measures, and
areas for future innovation.
