Ask a large company about their climate exposure and you may be dismissed with the answer: "We're insured, we're fine." David Fischer has spent his career showing why that's not quite true, and working to encourage organizations to properly price extreme weather hazards and chronic stressors into their operations and supply chains.

David is Chief Product Officer of Risk Management Partners at Munich Re, the unit that puts the reinsurer's trove of catastrophe loss data and climate risk analytics into the hands of banks, asset managers, corporates, and governments.

In this episode, David breaks down how Munich Re turns raw hazard data — like flood flow models, thermal satellite imagery, wind and precipitation patterns — into financial language a CFO or risk committee can actually act on, using loss data drawn from almost a century and a half of real claims paid out by Munich Re.

He explains why he believes climate risk remains meaningfully underpriced, even as the protection gap has narrowed since 1980, from around 70-80% of losses uninsured then to roughly half today.

He also gets into the operational headaches that are frustrating corporate and financial institutions' efforts to engage with climate risk and adaptation, from model governance challenges to regulatory scrutiny, and explains how Munich Re's Location Risk Intelligence suite can help.

If you work in climate risk, banking, insurance, or corporate resilience and want a clear-eyed read on why the "great repricing" hasn't fully arrived yet, this is the episode for you.