Insurance for climate change and environmental risk: a bibliometric review

Abstract

Purpose This study aims to examine the research output on climate change, environmental risks and insurance from 1986 to 2020, thereby revealing the development of the literature through collaborative networks. The relationship between insurance, climate change and environmental threats has gained research attention. This study describes the interaction between insurance, climate change and environmental risk. Design/methodology/approach This study is a bibliometric analysis of the literature and assessed the current state of science. A total of 97 academic papers from top-level journals listed in the Scopus database are shortlisted. Findings The understanding of climate change, environmental risks and insurance is shaped and enhanced through the collaborative network maps of researchers. Their reach expands across different networks, core themes and streams, as these topics develop. Research limitations/implications Data for this study were generated from English-written journal articles listed in the Scopus database only; subsequently, this study was representative of high-quality papers published in the areas of climate change, environmental risks and insurance. Practical implications The results of this study can be useful to academic researchers to aid their understanding of climate change, environmental risks and insurance research development, to identify the current context and to develop a future research agenda. Social implications The findings of this study can improve the understanding of industry practitioners about climate change and global warming challenges, and how insurance can be used as a tool to address such challenges. Originality/value This study is a novel attempt. To the best of the authors’ knowledge, this is one of the first studies to better understand climate change, environmental risks and insurance as a research topic by examining its evolution in an academic context through visualization, coupling and bibliometric analysis. This bibliometric study is unique in reviewing climate change literature and providing a future research agenda. Using bibliometric data, this study addressed the technical aspects and the value it adds to actual practice. Bibliometric indicators quantitatively and qualitatively evaluate emerging disciplinary progress in this topic.