The impact of climate change on the Maltese insurance industry

Abstract

The impact of climate change has been felt throughout the world, with some places suffering more than others. Both individuals and businesses have been affected, which is why this study is focused on the insurance industry as it concerns both the insurer and the insured. This study consists of five chapters, including an introduction, literature review, methodology, analysis and findings, and conclusion. The introduction provides a brief overview of the thesis, including the statement of the problem, motivation, research question, and hypothesis. The literature review focuses on existing studies on climate change and its impact on the insurance industry, where the author describes how his research adds to this body of knowledge. The methodology chapter outlines the research design and data collection methods used in the study. The author conducted face-to-face interviews with insurance companies to understand how they have been impacted by climate change and their intentions in handling such events. Thematic analysis was used to identify patterns in the data collected. In the analysis and findings chapter, the author examines the data collected and explains the qualitative data. The author identifies the specific impacts of climate change on the Maltese insurance industry, including rising temperatures, rising sea levels, and extreme weather events. The chapter also explores potential solutions and adaptations that the insurance industry can implement to mitigate the effects of climate change. The conclusion chapter summarises the findings of the study and provides recommendations for future research and policy development. The author emphasises the importance of addressing the impact of climate change on the insurance industry, as it affects not only insurers but also policyholders. This research provides valuable insights into the impact of climate change on the Maltese insurance industry and opens up endless opportunities to conduct further studies related to this subject.