European Insurance and Occupational Pensions Authority (EIOPA)

EIOPA's mission is to protect the public interest by helping ensure the short-, medium- and long-term stability and effectiveness of the financial system for the EU’s economy, businesses and people. It achieves its mission by promoting a sound regulatory framework for and consistent supervision of insurance and occupational pensions sectors in Europe. This protects the rights of policyholders, pension scheme members and beneficiaries. It also creates public confidence in the EU’s insurance and occupational pensions sectors.

The Dashboard on insurance protection gap for natural catastrophes is one element of EIOPA’s approach to address protection gaps. It depicts the insurance protection gap for natural catastrophes. The aim of the dashboard is to present the drivers of a climate-related insurance protection gap in order to identify measures that will help in decreasing society’s losses in the event of natural catastrophes. 

The dashboard brings together data on economic and insured losses, risk estimations as well as insurance coverage from 30 European countries, presenting data in four different views:

• Current view. Using modelling data, this view indicates the current protection gap according to a particular peril (e.g. flood, earthquake).
• Historical view. Using data of insurance coverage and economic losses from 1980 to 2021, this view presents a historical protection gap according to a particular peril.
• Country view. This view presents additional information of the current protection and historical protection gaps for each country.
• Country insurance view. This view presents information on how natural catastrophes are covered by country.

Addressing protection gaps effectively requires a broad view, taking in not only how gaps are measured, but also both the supply and demand side of insurance. EIOPA is addressing all three aspects in its current work, as part of its sustainable finance activities 2022-2024 with the goal of facilitating the transition to a more sustainable and resilient economy.