Floods, storms, drought, hail: Covéa publishes a white paper on climate risk modelling in mainland France


Ahead of the publication of the second part of the 6th IPCC report, the Covéa Group (MAAF, MMA and GMF) has published a white paper focusing on climate change. This scientific study, the result of several years of research, identifies and quantifies the major climate risks that lie ahead for mainland France.

Experts from Covéa’s Major Risks division joined forces with RiskWeatherTech to research the effects of climate change on insurance claims.

The study, the only one of its kind on the market, is based on modelling of climate changes and models of damages developed by Covéa on the basis of past claims and analysis of its home insurance risk portfolios in mainland France. It quantifies the expect changes in damages relating to flooding, drought, hail and storms as a result of climate change between now and 2050.

The white paper highlights an expected sharp rise in claims over the coming years, in particular in relation to flooding and drought.

It also shows a change in the shape of climate-related claims, with a growing proportion of incidents relating to natural disasters.

Covéa has also drawn on its expertise in the are of climate risk modelling to develop research programmes to help its members to cope with the growing number of claims.

For example, Covéa has invested in the research and development of innovative solutions to reduce the shrinking and swelling of clay soils in order to make buildings more resilient to drought.

A leading name in non-life insurance, Covéa has a front line position in observing and assessing the consequences of climate change. The Group believes that prevention is a core pillar of efforts to ensure housing can withstand the impact of climate change. Drawing on our expertise in anticipating and managing climate risk, we aim to continue with our research in order to limit the negative effects on our exposures and claims rate, and carry on protecting our members over the long term,” comments Paul Esmein, Deputy Chief Executive Officer of Covéa.

RiskWeatherTech, a specialist in modelling natural risks and the impact of climate change, has worked with Covéa for a number of years on anticipating and managing climate risk. More generally, we are eager to support the most vulnerable sectors and/or those that are most aware of their exposure to climate change in order to help them make the right decisions in terms of adaptation and mitigation,” adds Blandine L’Hévéder, Chief Scientific Officer at RiskWeatherTech.

Consult Covéa white paper on climate change: