ABSTRACT
The paper aims to examine the interrelation between climate risk and insurance, focusing on emerging trends, the evolution of risk assessment methodologies, and the challenges and opportunities in leveraging climate insurance to mitigate climate change risks. The study utilizes bibliometric analysis, network analysis, and content analysis on the bibliometric data comprises 1,726 documents from the Scopus database, narrowed down to 1,688 documents published within the time span of 1975-2023. The research identifies significant trends in the literature, with notable contributions from the United States, China, the United Kingdom, Germany, and France. The evolution of risk assessment methodologies reflects a shift towards addressing systemic complexity, multi-hazard risks, and forward-looking scenarios. The study also highlights the role of climate risk insurance in promoting sustainable development, encouraging adaptation strategies, and reducing long-term climate change costs. Policymakers and regulators can support the insurance sector’s contribution to climate adaptation by promoting risk reduction measures and fostering public-private partnerships. Enhancing data collection and analysis, developing innovative insurance products, and integrating technological advancements can improve the accuracy of risk prediction models and the effectiveness of climate insurance. This study provides a comprehensive bibliometric review of climate risk insurance literature, offering valuable insights into the field’s development and identifying future research directions.

Keywords: Climate risk insurance, climate change, risk assessment, bibliometric analysis
JEL Classification: Q54, Q56, G22

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