Extreme heat is the deadliest climate risk, responsible for 489,000 deaths annually – more than floods, hurricanes, earthquakes and wildfires combined. It is also rapidly becoming the costliest climate risk, projected to result in $2.4 trillion in annual productivity losses and $445 billion in annual fixed-asset losses for publicly listed companies by 2035.
Written in collaboration with Allianz, Insuring Against Extreme Heat: Navigating Risks in a Warming World outlines strategies for insurers, policy-makers and other key stakeholders to build and sustain resilience against extreme heat in an unprecedented era of “global boiling”. The white paper explores innovative insurance solutions, financing mechanisms and policy tools that can address the escalating challenges of extreme heat while protecting vulnerable communities and economies worldwide. It offers actionable recommendations, including raising awareness about extreme heat, leveraging innovative financial mechanisms, implementing government risk-reduction policies and fostering impactful public-private partnerships.
The insights from this white paper will lay the groundwork for a cross-industry initiative tackling extreme heat and related climate risks throughout 2025. By applying its guidance, stakeholders can cultivate a more resilient insurance ecosystem and spearhead efforts to address the impacts of extreme heat on communities and businesses.
