The Hong Kong Insurance Authority (IA) and the Hong Kong Federation of Insurers co-hosted a Hong Kong Green Week event focused on how the insurance sector can support climate resilience, drawing over 180 practitioners and stakeholders in person and online. IA Chairman Stephen Yiu called for proactive regulator and policymaker engagement with the industry to strengthen climate resilience through robust risk assessment and improved risk management frameworks. The IA highlighted its regulator-industry-academia collaboration to apply advanced climate risk research and modelling in insurance, including an overview of the IA-spearheaded Climate Modelling Project presented jointly with the Hong Kong Federation of Insurers’ Task Force on Green Insurance and the Hong Kong University of Science and Technology. Based on claims data shared by insurers, the project is expected to generate insights to enhance climate risk assessment, strengthen underwriting capability, and support product innovation aligned with sustainability goals. The programme also included a cross-sector panel on identifying business opportunities and strengthening resilience, plus government sharing sessions on integrated shoreline management and flood management strategies.
Hong Kong Insurance Authority spotlights insurer Climate Modelling Project at Hong Kong Green Week climate resilience forum
The Hong Kong Insurance Authority and the Hong Kong Federation of Insurers hosted a Hong Kong Green Week event to discuss the insurance sector's role in climate resilience. IA Chairman Stephen Yiu emphasized the need for proactive engagement between regulators and the industry to enhance risk management frameworks. The event featured the IA-led Climate Modelling Project, aiming to improve climate risk assessment and underwriting capabilities through collaboration with academia and industry.