Buy (150 RUB)
Generate QR code
Open Access
Subscription or Fee Access
Foreign Experience in Climate Risk Insurance
EDN: WUEQPA
Abstract
The increase in the number of natural disasters and the assessment of the consequences of their occurrence confirm the relevance of the problem of climate risk insurance. This industry direction is widely developing in the European and North American insurance markets and is accompanied by research activities of leading regional insurers. In domestic conditions, climate risk insurance is not developed widely enough, and Russian insurers have practically no own experience of analytical work in this area.
The purpose of the study is to describe and partially systematize the experience of research activities of leading foreign insurers in the field of climate risk assessment for the further development of specialized insurance products.
In the article, using traditional research methods, a selection of possible scenarios of natural disasters for Russia was made, factors that impede and potentially contribute to the development of climate risk insurance were assessed, related state acts were described and best practices of leading foreign insurers were formed. The final part of the study provides measures to promote the development of climate insurance in Russia.
About the Authors
I. V. Okhrimenko
Financial University under the Government of the Russian
Federation
Russian Federation
Russian Federation
Igor V. Okhrimenko
Leningradsky av., 49, Moscow, 125167
A. A. Tsyganov
Financial University under the Government of the Russian
Federation
Russian Federation
Russian Federation
Alexander A. Tsyganov
Leningradsky av., 49, Moscow, 125167
References
1. Akimov V.A., Rogozhin Y.А., Tsyganov А.А. Development of a comprehensive mechanism for the development of insurance for the population, small and medium-sized enterprises in case of the implementation of hazardous natural processes in the North-West and Central Caucasus // Safety and Emergencies Problems. 2020;(6):89-99. (In Russ.) https://doi.org/10.36535/0869-4176-2020-06-11
2. Bashkin V.N. Modelling of natural and ecological risks // Issues of Risk Analysis. 2024;21(3):8-9. (In Russ.)
3. Belousova T.A., Kirillova N.V., Gudkova V.S., Krutova L.S. Certain aspects of the implementation of imputed insurance of environmental risks in the Russian Federation // MIR (Modernization. Innovation. Research). 2024;15(3):371- 387. (In Russ.) https://doi.org/10.18184/2079-4665.2024.15.3.371-387
4. Zhichkin K.A., Nosov V.V., Zhichkina L.N. Plant immunity and crop insurance // Economy of Agricultural and Processing Enterprises. 2021;(5):38-42. (In Russ.) https://doi.org/10.31442/0235-2494-2021-0-5-38-42
5. Krutova L.S. Features of environmental risk insurance and their impact on the financial effect of industrial enterprises // Kaluga Economic Bulletin. 2021;(3):9-11. (In Russ.)
6. Logvinova I.L. On the issue of classification of agricultural insurance taking into account modern trends in its development // St Petersburg University Journal of Economic Studies. 2024;40(3):483-505. (In Russ.) https://doi.org/10.21638/spbu05.2024.307
7. Mikheev P.N. The climate agenda of international insurance companies // Insurance Business. 2024;(10):8-15. (In Russ.)
8. Mikheev P.N. Facet-hierarchical approach to the classification of climate risks in the context of the economic activity of the enterprise // Issues of Risk Analysis. 2022;19(6):34-49. (In Russ.) https://doi.org/10.32686/1812-5220-2022-19-6-34-49
9. Okhrimenko I.V. Based on practice: on the need to improve training programs on agricultural insurance // AIC: Economics, Management. 2023;(5):65-74. (In Russ.) https://doi.org/10.33305/235-65
10. Rubtsov B.B., Klek A.V. International experience in accounting for climate risks in banking regulation // Finances, Money, Investments. 2025;(1):11-18. (In Russ.) https://doi.org/10.36992/2222-0917_2025_1_11
11. Ulybina K.S., Elmurzaev A.V. Problematic aspects of fire insurance in the Russian Federation // Man. Socium. Society. 2023;(4):140-148. (In Russ.)
12. Tsyganov A.A. From ESG to ECG // Modern Insurance Technologies. 2024;(6):94-97. (In Russ.)
13. Berg F., Kölbel J.F., Rigobon R. Aggregate confusion: the divergence of ESG ratings // Review of Finance. 2022;26(6):1315–1344. https://doi.org/10.1093/rof/rfac033
14. Busch T., Johnson M., Pioch T. Corporate carbon performance data: quo vadis? // Journal of Industrial Ecology. 2022;26(1):350-363. https://doi.org/10.1111/jiec.13008
15. Kousky C. THe role of natural disaster insurance in recovery and risk reduction // Annual Review of Resource Economics. 2019;11(1):399-418. https://doi.org/10.1146/annurev-resource-100518-094028
16. Fliegel P. How (not) to measure companies’ climate transition risk: a framework and categorized literature review // Corporate Social Responsibility and Environmental Management. 2025;32(3):3049-3077. https://doi.org/10.1002/csr.3094
Review
For citations:
Okhrimenko I.V., Tsyganov A.A. Foreign Experience in Climate Risk Insurance. Issues of Risk Analysis. 2025;22(6):88-97. (In Russ.) EDN: WUEQPA
Views:
15
Email this article 