EU to launch climate insurance scheme after summer of extreme weather
XLF•EU plans climate insurance alliance
BRUSSELS, Sept. 16 (Reuters) - The European Union will create a "climate insurance alliance" aimed at increasing insurance cover for extreme weather events, European Commission President Ursula von der Leyen said on Wednesday.
"Today, only around 25% of catastrophe losses in Europe are covered by private insurance. This means that, far too often, national budgets become the insurer of last resort. We need to take action to close this gap," von der Leyen said in a speech to the European Parliament.
