Why all eyes are on insurance in climate risk conversations

One of our key takeaways from Climate Week NYC in 2025 was that the insurance industry is taking a more central role in conversations about climate risk.   

As climate change causes more frequent and severe extreme weather events, some insurers are increasing premiums or pulling out of certain regions, with implications for policy and the financial markets.  

To learn more about the changing landscape for insurance, we sat down on the sidelines of Climate Week NYC with Martin Powell, Group Sustainability Director at global insurance and asset management group AXA.  

"A 2-degree world is still insurable, but it's going to be unaffordable for many, many people," Martin says. "As we head towards that sort of temperature increase, our job is to try and predict and assess what that's going to mean for society in five years' time and do what we can today to reduce those impacts." 

The urgency is growing to adopt new strategies and practices to assess these climate-related risks, and we heard at Climate Week NYC why this is particularly true in the US homeowners insurance market.  

Heather Zichal, the Global Head of Sustainability at JPMorganChase, says the future of homeowners insurance is "very much front and center

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