Abstract

In the past few years, unstable and extreme weather patterns are increasingly occurring as phenomena of climate change and the link to greenhouse gas emissions is scientifically accepted. Extreme weather patterns cause major dam- age on health, property and business. Thus, the question is who is going to pay. In this paper, following a law and eco- nomics approach, the problem is analysed starting from the consideration that emitters of greenhouse gases externalize the true costs of their contribution to climate change. Efforts to recover these costs, which manifest both through the costs of impacts and the costs of efforts to prevent impacts, could imply a relevant role for the insurance sector. Be- cause the insurance sector is the world’s largest industry, the response of insurers to the broader climate-change chal- lenge will no doubt be extremely relevant to solve this internalization problem. Particularly the paper is about the role that insurance sector could play in the design of political economic solutions for climate change consequences. This role can be identified in different directions: (1) insurance coverage for claims of third-parties who allege injury or property damage; (2) insurance financial products to finance technological responses to climate change, such as mitiga- tion and adaptation. Specifically the indirect effect of the insurers is discussed in proactively stimulating climate change prevention behavior related to their customers in the view of the choice of political economic instruments.

Autore Pugliese

• Porrini Donatella

Tutti gli autori

• D. Porrini

Titolo volume/Rivista

ENVIRONMENTAL ECONOMICS

Anno di pubblicazione

2011

ISSN

1998-6041

ISBN

Non Disponibile

Numero di citazioni Wos

Nessuna citazione

Ultimo Aggiornamento Citazioni

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Numero di citazioni Scopus

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Ultimo Aggiornamento Citazioni

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Settori ERC

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Codici ASJC

Non Disponibile