Danish Insurance Essay

3072 words - 13 pages


Introduction 3
Problem statement 4
Delimitation 4
Methodology 5
Risk management 6
Charateristics of insurance industry 6
Risk qualification 8
Approximate cost for a threat determination 8
Probability of threat accuracy or that vulnerability will be affected 9
SWOT analyses 10
Matrix between Strengths-Threats and Opportunities-Weaknesses 11
Conclusion of SWOT analysis 13


Climate change is a significant and lasting change in the statistical distribution of weather patterns over periods ranging from decades to millions of years. It may be a change in average ...view middle of the document...

In the time of climate change the dangers associated with such weak points will be recessed, a key issue still is whether the required stimulus will be injected into policy to deal with the financial consequences in the future. As climate change is a global issue, the question of financial preparedness spreads through relevant policies and strategies of all nations. However, not only Earth is affected by climate change – financial institutions, such as insurance industry, have to face changes in the climate as well.

Problem statement

One of the most important aspects for insurance companies is their financial strength. In case of natural disasters it is crucial that insurance companies do not go bankrupt and can provide the consumers with their claims. If insurance companies fail to prepare for unexpected damage costs, it leads to losses not only for the company but as well for their consumers. It is self-evident that climate changes have big influence on insurance industry and it is facing threats regarding to climate changes. Trying to understand how these threats can be solved with existing financial instruments and ability to use different business structures to react to the situation, may bring to sufficient changes in understanding the problems of the impact of the climate changes to insurance industry and their ability to tackle them. The salvation of these threats can lead insurance companies to operate more effective.

On this basis, the problem statement: How does the climate change affect the insurance industry? Hereon an analysis on how some of these threats can be solved by the industry.


Insurance is very wide topic to discuss. That’s why in our project we cannot look at all of the angles of insurance. Our project is limited. The main idea in project is concentrated on how climate change affects insurance industry and how consequences can be solved. However, we do not include such points as causes of climate change, weather analyses, changes in climate in certain geographical areas, causes of global warming and the rule of insurance company in tackling climate change. As well we are not making risk management and SWOT analysis based on one specific insurance company but all insurance industry. Risk management and SWOT analysis do not include aspects which are not connected with climate changes.


We are going to make risk management, to find characteristics of insurance industry, qualifying threats, determine approximate cost for threat, probability of threat and accuracy of that. Also define risk to the industry and how to reduce it, to find the limitations in order to be able to define the threats. As well risk management will help us to understand how insurance companies accumulate their capital in order to ensure financial stability. And to identify the vulnerability of the industry and analyze possible ways that these can be solved.
Based on the information which we get in risk...

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