Attribution analysis demonstrates forecast uncertainties for insurance claims due to climate change, suggesting improved assessment methods have implications for climate adaptation.
We present an attribution analysis of residential insurance losses due to noncatastrophic weather events and propose a comprehensive statistical methodology for assessment of future claim dynamics in the face of climate change. We also provide valuable insight into uncertainties of the developed forecasts for claim severities with respect to various climate model projections and greenhouse emission scenarios. The results of our study pave the way for more accurate short- and long-term cost-benefit assessment of climate adaptation in the insurance sector.
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Lyubchich et al. (2019) studied this question.
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