Integrating climate change risk management into icelandic insurance companies /
Climate change poses significant challenges to the insurance industry. This thesis focuses on the integration of climate change risk management within the risk management frameworks of Icelandic insurance companies. The research leverages the Application Guidance provided by the European Insurance a...
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| Format: | Master Thesis |
| Language: | Lithuanian English |
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Institutional Repository of Vilnius University
2023
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| Online Access: | https://repository.vu.lt/VU:ELABAETD192826484&prefLang=en_US |
| Summary: | Climate change poses significant challenges to the insurance industry. This thesis focuses on the integration of climate change risk management within the risk management frameworks of Icelandic insurance companies. The research leverages the Application Guidance provided by the European Insurance and Occupational Pensions Authority (EIOPA) to conduct climate change materiality assessments, incorporates climate change stress tests and scenarios, and utilizes the "R" software to assess risks within the Solvency II framework. The objective is to support Icelandic insurers in effectively managing climate-related risks, promoting sustainability, and ensuring industry resilience. Through the use of dummy life and non-life insurance companies, this thesis presents practical approaches for identifying, assessing, and monitoring climate-related risks specific to the Icelandic insurance industry. |
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