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Watch the Q&A session here: https://youtu.be/Hwl0YRRaHgE
Why did coastal homeowners lose insurance while UK energy bills spiked after Russia’s invasion? Because risks started moving together. In this lecture, I show how climate extremes and geopolitics create synchronized shocks that overwhelm insurers and energy suppliers, pushing up premiums and bills. I discuss the basics of risk pooling, why it breaks under correlation, and what realistic fixes look like—from parametric policies and better building standards to smarter hedging and targeted support.
This lecture was recorded by Raghavendra Rau on the 18th of February 2026 at Barnard's Inn Hall, London
Raghu is the Mercers School Memorial Professor of Business
He is also the Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge Business School.
The transcript of the lecture is available from the Gresham College website: https://www.gresham.ac.uk/watch-now/climate-insurance
Gresham College has offered free public lectures for over 400 years, thanks to the generosity of our supporters. There are currently over 2,500 lectures free to access. We believe that everyone should have the opportunity to learn from some of the greatest minds. To support Gresham College's mission, please consider making a donation: https://www.gresham.ac.uk/get-involved/support-us/make-donation/donate-today
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By Gresham College4.5
3333 ratings
Watch the Q&A session here: https://youtu.be/Hwl0YRRaHgE
Why did coastal homeowners lose insurance while UK energy bills spiked after Russia’s invasion? Because risks started moving together. In this lecture, I show how climate extremes and geopolitics create synchronized shocks that overwhelm insurers and energy suppliers, pushing up premiums and bills. I discuss the basics of risk pooling, why it breaks under correlation, and what realistic fixes look like—from parametric policies and better building standards to smarter hedging and targeted support.
This lecture was recorded by Raghavendra Rau on the 18th of February 2026 at Barnard's Inn Hall, London
Raghu is the Mercers School Memorial Professor of Business
He is also the Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge Business School.
The transcript of the lecture is available from the Gresham College website: https://www.gresham.ac.uk/watch-now/climate-insurance
Gresham College has offered free public lectures for over 400 years, thanks to the generosity of our supporters. There are currently over 2,500 lectures free to access. We believe that everyone should have the opportunity to learn from some of the greatest minds. To support Gresham College's mission, please consider making a donation: https://www.gresham.ac.uk/get-involved/support-us/make-donation/donate-today
Website: https://gresham.ac.uk
X: https://x.com/GreshamCollege
Facebook: https://facebook.com/greshamcollege
Instagram: https://instagram.com/greshamcollege
Bluesky: https://bsky.app/profile/greshamcollege.bsky.social
TikTok: https://www.tiktok.com/@greshamcollege
Support Us: https://www.gresham.ac.uk/get-involved/support-us/make-donation/donate-today
Support the show

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