D3.7 Guidance on insurance pricing, product and services: Best practices and emerging insurance solutions

This document provides a guidance for the implementation of emerging or innovative insurance solutions supporting climate change adaptation. It highlights the importance of using advanced catastrophe modelling, structured data systems, and regulatory frameworks to improve climate risk insurance. It emphasizes the role of PPPs in addressing protection gaps and promoting risk-sharing mechanisms. Examples from Spain and France illustrate successful agricultural insurance systems that leverage public-private collaboration. Furthermore, it argues that climate-resilient and affordable insurance requires combining advanced risk modelling, innovative product design, public support mechanisms, and strong engagement with policyholders. Applied effectively, these approaches can reduce protection gaps, enhance financial inclusion, and support climate resilience objectives under the European Green Deal, particularly in climate-vulnerable sectors such as agriculture. Finally, it provides an overview of multiple potential insurance solutions and maps them to sets of barriers encountered in the process of resilience development or closing the protection gap.