Insurers Say EU Data Plans Oversimplify Climate Risk

Law360, London (April 1, 2021, 2:46 PM BST) -- Europe's insurers have raised concerns that a European Union initiative to collect data on gaps in cover for natural disasters is an "oversimplification" that does not take into consideration the circumstances of individual member states.

Insurance Europe, a trade body representing the sector, said Thursday that an initiative by the European Insurance and Occupational Pensions Authority to provide information on natural catastrophes needs adjustments so that it can assess the situation in each member state individually.

The watchdog announced in December that it plans to launch a dashboard to highlight gaps in insurance protection available for natural disasters, amid concerns of...

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