A summary report conducted by the Intergovernmental Panel on Climate Change of the United Nations shows that climate change and extreme weather events are becoming more frequent and more severe. In this context, proactive changes to adapt or to develop the adapting capacity will be required. By 2050, the costs of adaptation to climate change will increase by USD 70-100 billion each year.

In the future, climate change will increase insurance prices, and in many cases this means that the local governments will have to lend their support to various insurance programs, according to the aforementioned report.

Frequent and extreme weather events will also lead to an increase of total damages reported on the catastrophic risk segment, creating problems when it comes to maintaining affordable prices for policies, especially in developing countries.

Thus, financing mechanisms against public and private sector risks, such as insurance pools, may contribute to an increased resistance against these risks caused by climate change. However, if those who implement them do not pay attention to their structures and current challenges, such solutions may cause failures on the market. Governments often play a key role as regulatory entities or ultimately, even as "insurers".

In this context, the broad theme of climate change and catastrophic risks management and how these two aspects influence even the agricultural insurance segment will be discussed during the 12th edition of the International Catastrophic Risks Forum – ICAR 2015, which will take place on October 1st, 2015, at the Hilton Hotel in Bucharest.