This special lecture will be co-hosted by Columbia Engineering, the Tamer Institute for Social Enterprise and Climate Change at Columbia Business School, and Columbia Climate School.
- 10:00 AM - 10:30 AM Registration
- 10:30 AM - 11:30 AM Lecture
Advance registration is required for both Columbia non-affiliates and Columbia affiliates.
"Navigating Climate Challenges: Resilience through Insurance, Markets and Public Policy"
Climate disasters are intensifying across Europe, exposing a growing gap between economic losses and insurance coverage. Only 25% of catastrophe-related losses are insured EU-wide, with some countries below 5%, leaving households and governments to absorb mounting recovery costs. This gap stems from inconsistent regulation, affordability issues, and political incentives that discourage proactive insurance uptake. Post-disaster aid promises often undermines private insurance, while intervention like price caps and high capital requirements destabilize markets and deter new entrants. Compared to the U.S., EU insurers face higher barriers, limiting innovation amid rising climate risk. Greece’s underinsured response to Storm Daniel contrasts with Spain’s Consorcio-backed recovery in Valencia, showing how institutional design shapes resilience. Europe must align regulation, market incentives, and public policy to transform insurance from a reactive backstop into a proactive pillar of climate adaptation. Smart regulation, trust in institutions, and coordinated action are essential. The time to act is now.
Alexander Sarrigeorgiou '79SEAS, '80SEAS is Chairman & CEO of Eurolife FFH Insurance Group and Chairman of the Hellenic Association of Insurance Companies. He is Vice President of Insurance Europe and serves on the boards of A.M. Nomikos Shipping, Grivalia Hospitality, and the Wharton Club of Greece. He is also involved with the Foundation for Economic & Industrial Research (IOBE), the Hellenic Federation of Enterprises (SEV), and chairs the Hellenic Advisory Board for South East European Studies at the University of Oxford. He previously served on the Board of S&B Industrial Minerals, the Greek Capital Commission, and the Wharton EMEA Executive Board. Mr. Sarrigeorgiou holds an MBA from the Wharton School and an MSc and BSc in Civil Engineering from Columbia University, as well as an honorary doctorate from the University of Piraeus. He has held leadership roles in multinational corporations in both Greece and the United States.