Athens (Greece)
Bavaria (Germany)
Gabrovo (Bulgaria)
Leipzig and Saxony (Germany)
Trøndelag (Norway)
Valencia (Spain)
Zadar (Croatia)

SOTERIA will contribute to the wider goal of the Mission Adaptation to increase Europe’s resilience and preparedness to face unavoidable consequences of climate change by filling the gaps on insurance coverage for climate adaptation. The SOTERIA project aims to promote insurance solutions to address climate change and protect organizations and businesses from the impacts of climate change in Europe.

The objective is to reduce the protection gap by documenting best practices and testing and validating innovative insurance solutions in eight European regions with different risks and needs. In these regions, iterative versions of insurance products focused on preventative measures will be tested through various stages of development to gather valuable information and guide its growth.

Beyond benefiting insurance companies, the SOTERIA project will have a direct, positive impact on citizens, the scientific community, and vulnerable sectors such as agriculture.

The project, coordinated by the Basque Centre for Climate Change (BC3), started in September 2023 and will last for two and a half years. The project is funded by the European Union’s Horizon Europe Research and Innovation Programme under Grant Agreement No 101112867.

The climate insurance protection gap is a real concern because it threatens financial stability and weakens the financial position of, for example, governments that cover losses in the aftermath of climate-related disasters.

The work of SOTERIA project will focus on the following:

• Informing, boosting, and facilitating access to improved knowledge, data, and digital services that can enhance climate risk management at the local, regional, national, and EU levels using climate risk products and services.
• Documenting the best and emerging practices while also assisting in the trial and testing of innovative solutions.
• Supporting, informing and providing the basis for the adoption of a multilevel, polycentric governance approach.

Global Infrastructure Basel Foundation (GIB) brings expertise in sustainable and resilience infrastructure, standardisation, nature-based solutions and collaboration with the insurance sector. GIB supports SOTERIA engaging in Climate Resilience society-insurance dialogues.

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Beneficiaries
Basque Centre for Climate Change
I-Catalist SL
Climate Risk Advisory AS
Helmholtz-Zentrum für Umweltforschung GmbH – UFZ
SINTEF AS
National Center for Scientific Research Demokritos
Behavior SMART OOD
Conselleria de Generalitat Valenciana
Mitigrate AS
Aquatec Proyectos para el Sector del Agua SA
Genillard & Co GmbH
Hochschule Weihenstephan-Triesdorf
Association for the Development of West Athens
Municipality of Gabrovo
Empower Insight

Associated Partners
Verbraucherzentrale Sachsen e.V.
Landesamt für Umweltschutz (Regional Env. Protection Agency)
Kommunal Landspensjonskasse gjensidig forsikringsselskap
Gjensidige Forsikring ASA
Bavarian Farmers Association
Croatia Osiguranje
DZI at KBC Group
Allianz Agrar AG
German Insurance Association
The County Governor in Trøndelag
Caisse de Reassurance
Dimos Egaleo
Zadar County
Ethniki AEEGA