Details
- Status
- Closed
- Opening date
- Deadline
Target audience
All interested stakeholders
Why we are consulting
Biodiversity loss can result in significant economic risks, affecting the value of investments, the frequency and intensity of insured losses, and the overall risk profile of insurers’ portfolios. EIOPA has identified a significant investment exposure in the insurance sector to assets dependent on nature and ecosystem services, which may indicate an exposure to biodiversity risks.
Considering these economic and financial impacts and dependencies on biodiversity, EIOPA proposes for consultation a report which looks at how insurers identify, measure and manage biodiversity risks, and assesses undertakings’ own risk and solvency (ORSA) practices. It aims at engaging supervisors and the insurance sector to adequately identify and address biodiversity loss risks.