Reassessing Insurance Models under Climate Change: State of the Art and Legal Implications

This paper examines the dynamics of insurance within the context of climate change, focusing on the complex interplay between anthropogenic environmental transformations and the intensification of natural hazards. The progressive exacerbation of climate-related risks has prompted the adoption of international and domestic regulatory frameworks aimed at risk reduction, the promotion of resilient urban systems, and the operationalization of preventive adaptation strategies, with an emphasis on stakeholder participation and public engagement. Insurance mechanisms are positioned as critical instruments within this normative and policy framework, functioning not only as financial risk-transfer tools but also as catalysts for ex ante risk mitigation, adaptive governance, and the consolidation of multi-stakeholder networks. Their integration into climate governance is indispensable for achieving systemic resilience, as they enable the alignment of public and private interests, facilitate the pooling and mutualization of risks, and incentivize climate-resilient behavior across sectors. The paper underscores the necessity of embedding insurance instruments within a broader legal architecture that encompasses civil, administrative, and, where applicable, criminal liabilities, thereby reinforcing compliance with adaptation obligations and advancing the global transition toward sustainable risk governance.