How can a proactive insurance sector change the game? The construction and insurance sectors need to reconcile risk reduction and sustainability. Liz Henderson, an expert in climate risk analysis at Aon, advocates a proactive approach to insurance, based on collaboration and the consideration of risk right from the project design stage, to accelerate the deployment of resilient construction. “Insurance is a key driver of resilience and safety investments. Relying on scientific data on the impact of climate change allows us to quantify the effect of resilience investments and adjust insurance costs accordingly. Historically, insurance has come into play after buildings are completed, assessing risks only at the end of a project. But by involving insurers from the start, we can better align financial incentives with resilience outcomes. The real challenge is to successfully capitalize on resilience investments before disasters occur. If we measure their impact on risk reduction, insurers can adjust their pricing to proactively reward resilience, marking the shift from reaction to prevention.” READ the full interview in Constructing a sustainable future POINT OF VIEW 118
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