The European Commission (EC) has released a green paper on insurance options for natural and man-made disasters in member states.

The paper, which is open for public consultation until June 30, poses questions about the adequacy and availability of disaster insurance.

It aims to raise awareness and assess whether action at European Union level is “appropriate or warranted to improve the market for disaster insurance”

“Natural and man-made catastrophes are on the rise, while the capacity of the insurance sector to insure against them is not fully utilised,” EC Internal Market and Services Commissioner Michel Barnier said.

“European-level solutions to bridge the insurance gap need to be explored, along with common means of prevention and ways of raising awareness among citizens and companies.”

After consultation, the EC will decide on the most appropriate legislative and non-legislative actions.