Insurance is at the forefront of the discussion about climate impacts. While climate changes the risk profile for physical assets (and non-physical assets), with the potential for loss and damage, insurance translates this risk into an upfront financial cost.

As global average temperatures rise, the scale and frequency of extreme events are increasing. We are seeing much greater loss and damage and a corresponding rise in insurance premiums. This scenario is making some areas uninsurable.

The rate of change has raised questions about the insurance industry's future: whether it can continue to function in an environment of growing risk and whether parts of the business will need to be picked up by the government, but at what cost?

The astronomical costs associated with loss and damage raise further questions about climate adaptation. Does underinvestment in adaptation increase the cost of disaster response, which in turn reduces our ability to invest in adaptation?

The Monash Green Lab roundtables, held in collaboration with the U.S. National Academy of Public Administration's (NAPA) International Affairs Standing Panel, will bring together leading international and Australian thinkers from government, business, and community sectors.