UN report puts climate change at heart of insurance risk assessment Out-Law News | 02 Feb 2021 | 1:46 pm | 2 min. read A report produced by the United Nations (UN) in collaboration with 22 major insurance firms has suggested that the insurance industry needs to adopt an integrated approach in order to manage future climate change risk. The final report of the UN’s Environment Programme’s Principles for Sustainable Insurance Initiative (107 page / 1.6MB PDF), which aims to pilot recommendations from the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TFCD), assessed climate-related physical, transition and litigation risks in an integrated manner with a focus on scenario analysis.