The Insurance Council of Australia (ICA) has published a report advocating for “nature-positive insurance” amid rising nature-related risks. The report highlights the close relationship between insurers and various sectors that depend heavily on nature, stating that the loss of natural resources increases the frequency and severity of extreme weather events, directly impacting insurance claims. The paper outlines actionable steps insurers can take to incorporate nature considerations into their business strategies and product offerings. It emphasizes the next decade as a crucial period for insurers to mitigate nature-related risks and supports the transition towards sustainable practices.
