From risk to revolution – lessons from Howden’s de-risking summit on insurability and climate investment

Still going strong in our own backyard, London Climate Action Week brings the global climate conversation to a destination that's both deeply connected to the finance world, and increasingly facing the realities of climate change itself. 

I had the chance this year to be a witness to its kick-off, attending Howden’s De-Risking Summit at the iconic Mansion House (whose stained-glass windows, I can’t deny, caught my wandering eye more than once. If you’ve been, you’ll know what I mean). 

The event gathered some of the most influential thinkers and doers across insurance, finance, climate and policy. And at the heart of the discussions was a concept that – while fundamental to progress – has historically been overlooked and long under-discussed. Insurability.

Howden’s latest climate report, released alongside the summit and highlighting the need for insurance to protect asset value and economic growth, frames this crisply: insurability is more than just assessing risk. It’s about ensuring access to capital that drives resilience investments.

The challenge? Climate risks are evolving faster than traditional models can keep up with, putting the whole insurance ecosystem under pressure – to adapt, innovate, and de-risk a resilient transition. David Howden CBE brought this very reality check into the room, reflecting on the statistic that one in four UK homes face flood risk by 2050. 

Among the speakers, UK Special Representative for Climate Rachel Kyte delivered a keynote reinforcing this urgency. She reminded the room that we are entirely dependent on nature and need to find ways to put a value on it. And adaptation can’t fall to government or industry alone - it requires a collaborative, multi-sector approach, with government support enabling the private sector to lead. 

Her assertion that “insurance puts stability into lives” also underscores the need for insurance to evolve from a reactive safety net into a proactive enabler of resilience. This people-first lens carried through into the panel on financing the resilient energy transition. Voices from Microsoft and BlackRock emphasised integrating climate risk into financial and strategic planning, despite current data and measurement challenges.

We then explored the worlds of nature and agriculture – where the stakes are arguably the highest, and the data thinnest. During this panel, trust was the watchword. Trust between all stakeholders – farming communities, insurers, investors, and governments. Trust in the numbers (transparency and reliability in data is vital). And trust that the right financial structures – think CAT bonds and public-private models – can unlock the capital needed to build resilience where it matters most.

One clear takeaway from the summit and the report alike: prevention beats cure. I’m thinking of a couple of phrases here: “The storm never feels real until the roof caves in” and “We only feel the fire when it’s at our feet”. 

While decarbonisation efforts get most of the headlines, the reality is that adaptation and resilience must catch up. Insurance may not be able to solve the climate crisis alone, but it can be the lever for aligning capital with long-term climate goals, protecting vulnerable communities, and driving long-term, values-led investment. 

As climate risks evolve, so must our tools, our partnerships, and our willingness to innovate at scale. So, to borrow from Gillian Tan at the Monetary Authority of Singapore – think of it as the “3 Rs”: Risk, Resilience, Revolution.