Growing Risks
As climate change intensifies, vulnerable communities in India face increasing risks. The widening insurance coverage gap prevents many from protecting their livelihoods against extreme weather.
Insurance Sector Challenges
Insurers face record underwriting losses, leading to higher premiums and reduced coverage in high-risk areas. This leaves many without insurance, driving prices higher and shrinking the risk pool.
Economic Impact
Climate events impact nearly every aspect of India’s economy. Agriculture, which comprises 15% of GDP and employs 40% of the population, is particularly affected. Significant crop losses and economic damages highlight the need for climate resilience.
Future Outlook
By 2050, 45 million people may be forced to migrate due to climate change. Insurers, policymakers, and stakeholders must collaborate to create solutions that protect vulnerable communities and support climate resilience.
