EUSPA and EIOPA harness Copernicus data to strengthen the supervision of extreme weather events

The EU Agency for the Space Programme (EUSPA) and the European Insurance and Occupational Pensions Authority (EIOPA) published today a joint white paper exploring how Earth Observation (EO) data could be harnessed to enhance the supervision of natural catastrophes and assess the impact of extreme weather events on Europe’s insurance sector. As Europe faces escalating climate-related disasters and rising economic losses related to them, the need for more effective risk management and greater resilience against natural catastrophes is paramount — not least through the deployment of innovative solutions. Against this backdrop, today’s white paper — the result of a joint pilot project between EIOPA and EUSPA — highlights the benefits of using open-access Earth Observation data from Copernicus to improve the tracking and management of natural hazards. The project demonstrates that satellite-based EO data offers independent, objective and near real-time geospatial insights that can meaningfully improve risk assessment and risk management practices for insurers, communities and supervisors. Earth observation technology – especially the open, traceable data that Copernicus provides – ca...