Expertise Publication

The hidden risks of climate change: An increase in property damage from soil subsidence in Europe

Property damage from droughtinduced soil subsidence has risen dramatically across Europe. In France alone, subsidence-related losses have increased by more than 50% within two decades, costing affected regions an average of EUR 340 million per year. Climate change will further magnify the risks. As soil movements become more frequent and severe, communities will have to adapt to protect assets and limit financial losses. Insurance provides them with an important tool to do so.