According to the European Commission, only a quarter of the economic damage caused by natural disasters in Europe is insured. "As a result, governments too often act as a last resort," says Von der Leyen "That has to change. The new Climate Insurance Alliance to be established should bring together public and private parties to improve the protection of European citizens against climate risks." The elaboration will follow in the coming period, "but it is clear that this will be an important dossier for the European insurance sector," say Timo Brinkman and Jochem van Stiphout, both European & International Affairs advisers at the Dutch Association of Insurers. They expect this alliance to be one of the most important European dossiers for the coming period for the Association and European sister organisation Insurance Europe.
More attention to prevention and climate adaptation
The Commission does not only want to look at compensation, but also at limiting risks. That is why Von der Leyen announced, among other things, a European climate resilience strategy, better early warning systems for heat waves and additional measures on water management and drought risks. Klimaatadaptatie was explicitly linked to food security, health and economic resilience.
The attention paid to innovative data applications was striking. Von der Leyen pointed to satellite technology and companies such as ICEYE, which can help, for example, to better map risks and gain faster insight into damage after extreme weather. Brinkman: "Such developments are also becoming increasingly important for insurers in risk modelling, prevention and claims handling."
AI and online safety
Of course, Von der Leyen also dwelt extensively on artificial intelligence. According to her, Europe should use the unique amount of data much more and in a more targeted way for innovation, economic growth and better services. At the same time, she emphasised that menselijke controle remains essential in the deployment of AI. She linked the latter to measures that the Commission wants to take to better protect children and young people from harmful effects of social media. By addressing platforms more emphatically about their responsibility for the online safety of minors.
Less regulatory pressure and less 'gold plating'
A recurring theme in the speech was the simplification of European regulations in order to reduce administrative burdens for citizens and businesses. This is in line with the broader European commitment to competitiveness and economic growth. "According to Von der Leyen, that reduction must also be done at the national level because there is too often goldplating there," Stiphout explains. "This means that member states too often add additional national obligations when converting European to national rules. The Commission wants to limit this in order to reduce the regulatory burden and differences between member states."
Investment, energy and competitiveness
Von der Leyen emphasised the importance of private investment in the energy transition, digital innovation, infrastructure and defence, among other things. The further development of the European capital market is taking shape through the Savings and Investments Union (SIU) and the Retail Investment Strategy (RIS). Both PA advisers are committed to clear and workable rules for insurers. Affordable energy also remained an important theme. Accelerating investments in electricity grids and clean energy should contribute to lower costs, less dependence on energy imports and more economic growth.
Ukraine, Russia and security
Von der Leyen confirmed the EU's continued support for Oekraïne. In addition, the Commission wants to increase pressure on Russia, better enforce sanctions and strengthen European cooperation on security and defence.
Dutch Association of Insurers and Insurance Europe
The Association closely follows European developments and works closely with the European umbrella organisation Insurance Europe and fellow organisations from other member states. Precisely because the Climate Insurance Alliance, climate adaptation and the investment agenda are essential for a more resilient Europe, the Association is emphatically committed to this in the coming period.
Do you have questions about Europe, the commitment of the Association or our work within Insurance Europe? Please feel free to contact Jochem van Stiphout or Timo Brinkman.