Climate change is expected to lead to an increase in the frequency and severity of natural disasters, which will result in higher insurance claims and increased costs for insurers.

Property insurance is most likely to be affected by climate change because it covers damage to property caused by natural disasters, such as floods, hurricanes, and wildfires.

Insurance companies can mitigate the risks associated with climate change by increasing premiums, reducing coverage, and investing in climate change adaptation measures.

Governments can address the impacts of climate change on the insurance industry by regulating the industry, providing financial assistance to insurers, and investing in climate change adaptation measures.

The insurance industry faces a number of challenges in adapting to climate change, including uncertainty about the future impacts of climate change, lack of data on climate-related risks, and high cost of climate change adaptation measures.