Fifty-Fifty

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Comprehensive Insurance Services

"Comprehensive Insurance Services" tries to reduce the risk of economic losses by insuring properties against various weather extremes.


Internet link:


  • www.hagel.at (÷sterreichische Hagelversicherung; in german only)

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    Short description of measure

    Problem to be solved: Long-term risk of financing economic losses by insurances caused by increasing numbers of extreme weather events (e.g., floods, droughts, storms, thunderstorms, hail)

    Goal, potential objective: To increase the number of insured properties (including farmers, households, companies)

    Developmental steps: Development of legal instruments (until now only in some countries like Spain and Switzerland); development of new insurance products; public awareness program

    Instruments, implementation mechanism: Legilation on the national level; alternative: comprehensive new insurance services on a voluntary basis coupled with public awareness programs

    Area of implementation: Provincial, national

    Responsibilities: Provincial and national administrations

    Time horizon: Medium term

    Economic aspects:

    Promoters, obstacles, risks: Lack of acceptance for legal bindings; lack of innovative insurance companies

    Side effects: Better acceptance of climate change issues

    Bridge to mitigation: Insurance companies should include aspects of mitigation in their strategies