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Insurance Development Forum Secretary General Ekhosuehi Iyahen delivered a keynote address for the European Actuarial Academy’s CONVENTION A event exploring the insurance industry’s responsibility in the fight against climate change, and what role it can play going forwards.

Organised by the European Actuarial Academy, CONVENTION A took place from 19 to 23 September 2022 as an online only conference. Many influential speakers took part, delivering keynotes in their various areas of expertise. In her keynote address, Ekhosuehi Iyahen discussed the question; “Why is talking about climate change important?” .

“The increasing frequency and severity of climate change disasters threatens lives and livelihoods. It threatens food security, water supplies, property security and economic prosperity around the world.”  In her address, Ekhosuehi highlights ways that we can adapt in order to protect the most vulnerable communities during climate change disasters through seven recommendations, 

Her recommendations include; investing in open source models, which can help to provide a long term view of climate risks and link them with insurance solutions. Utilising joined up policy making, putting risk models “at the heart of national adaptation strategies.” Continuing to develop regulations and standards, fostering insurance innovations, deeper convergence between insurance and humanitarian agendas and promoting risk literacy by providing essential information for decision making.

Further information on how adaptation plays a vital role in making society resilient to the impacts of climate change and the recommendations addressed in this keynote can be found in this IDF report.”Insurance for climate adaptation: Challenges and Opportunities”.

This report was one of the background papers to the Global Commission on Adaptations 2021 Report which focuses on making the case for climate adaptation, providing specific insights and recommendations in key sectors: food security, the natural environment, water, cities and urban areas, infrastructure, disaster risk management, and finance. 

Both reports are designed to inspire action among decision-makers, including heads of state and government officials, mayors, business executives, investors, and community leaders. 

Watch the Convention A keynote in full. 


23rd September, 2022