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Authors Jayanta Guin, Suz Tolwinski-Ward, Charles Jackson, Boyko Dodov, and Roger Grenier Verisk Extreme Event Solutions, Boston, MA introduce the catastrophe risk modelling industry, describe the history and latest developments in state-of-the-art cat models within their firm, and discuss how further collaboration across sectors could contribute to improvements in the estimation of climate-driven risk.

Carolyn Kousky, Environmental Defense Fund, and Joseph W. Lockwood, Princeton University, explore the different levers currently being used by global insurers to help reduce greenhouse gas emissions, and how underwriting and the claims process could play a significant role in the transition to a low-carbon economy.

Based on their collective experiences, the authors of this paper discuss how closer coordination between science and practice is essential for developing effective insurance programmes that can address inequitable protection gaps.

Kerry Emanuel discusses how a combination of CAT modelling, physical weather hazard models, and risk science is fundamental for ensuring better quantitative climate risk estimates.

Jessica Turner highlights the challenges presented by incorporating climate change physical risk in catastrophe modelling, recommends some best practices, and discusses why improving our modelling can be beneficial, not only for the industry, but the wider economy.