Best practices on and piloting insurance solutions for climate adaptation in EU regions and communities
Programme Category
Programme Name
Programme Description
Horizon Europe is the European Union (EU) funding programme for the period 2021 – 2027, which targets the sectors of research and innovation. The programme’s budget is around € 95.5 billion, of which € 5.4 billion is from NextGenerationEU to stimulate recovery and strengthen the EU’s resilience in the future, and € 4.5 billion is additional aid.
Identifier Code
Call
Summary
Expected Outcome: Projects are expected to contribute to all of the following outcomes:
- A set of weather and climate risk insurance products to be used or replicated across EU regions and communities.
- Mechanisms to record, collect and share climate-related risk and losses data integrated within the Risk Data Hub 102, the Copernicus services, and other initiatives.
- Guidance on insurance pricing that reflect risks reduction measures, and to ensure affordable insurance cover.
- Trial innovative risk transfer solutions to deal with climate-induced risk, including parametric insurance and insurance of nature-based solutions.
- Advance public sector modernization when it comes to the demand for insurance solutions for climate adaptation.
- Open up opportunities in the insurance market for cutting edge risk transfer solutions.
- Reinforced policy frameworks to facilitate the allocation of substantial additional national and regional budgets to increase the penetration in the EU of insurance solutions to deal with climate-induced risks.
Detailed Call Description
This topic relates to all three objectives of the strategy, and is part of the key enabling conditions described in the Mission Implementation Plan103, to test novel insurance solutions, insurance products and risk-transfer mechanisms. The applied research and the experimentation with innovative solutions as further outlined below under points 1 and 2
should be at the centre of the project.
Insurance is a key tool to compensate for losses after extreme climate events, yet its use in the climate adaptation domain is limited at the moment for a variety of reasons. Recent studies show that between 1980-2019, direct economic losses in EU-27 from climate-related events totalled at least EUR 419 billion. Only 35% of these losses were insured on average across the EU.
Proposals should address both the following aspects:
- Best practices and filling the gaps on insurance coverage for climate adaptation
- Trialing and experimentation of insurance solutions in EU regions and communities
Call Total Budget
Financing percentage by EU or other bodies / Level of Subsidy or Loan
The Commission estimates that an EU contribution of between EUR 2.00 and 3.00 million would allow these outcomes to be addressed appropriately. Nonetheless, this does not preclude submission and selection of a proposal requesting different amounts.
Thematic Categories
- Environment and Climate Change
Eligibility for Participation
- Associations
- Central Government
- Educational Institutions
- International Organisations
- Legal Entities
- Local Authorities
- NGOs
- Non Profit Organisations
- Researchers/Research Centers/Institutions
- Small and Medium Enterprises (SMEs)
Call Opening Date
Call Closing Date
National Contact Point(s)
Research and Innovation Foundation
29a Andrea Michalakopoulou, 1075 Nicosia
P.O.Box 23422, 1683 Nicosia
Phone Number: +357 22205000
Email Address: support@research.org.cy
Website: https://www.research.org.cy/en/
Contact Person:
Myrto Anastassiadou
Contact Phone: +357 22 205 069
Contact Email: manastassiadou@research.org.cy