CHALLENGES OF INSURANCE IN THE ERA OF CLIMATE CHANGE

Univerzitet u Beogradu, Ekonomski fakultet Beograd, Srbija
Serbia

Univerzitet u Istočnom Sarajevu, Fakultet poslovne ekonomije Bijelјina, Republika Srpska, Bosna i Hercegovina
Bosnia and Herzegovina

Univerzitet u Beogradu, Ekonomski fakultet Beograd, Srbija
Serbia


Abstract

Climate change, recognized as one of the greatest global challenges of the 21st century, impacts all aspects of socio-economic life, including the insurance industry. This paper focuses on strategies that the insurance sector can implement to address these complex challenges. The study encompasses a wide range of topics, starting from the analysis of the impacts of climate change on the insurance industry, to the innovations applied in response to these changes. Within this research, special emphasis is placed on the concept of green insurance. Green insurance is viewed as a potential tool for mitigating climate risks, with the aim of understanding its possible role in the future of insurance. Furthermore, it explores how this concept can contribute to the long-term sustainability of the insurance industry, as well as the broader goal of reducing global climate risks.

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