The summer of 2021 in Germany has brought attention to what scientists have been warning about for a long time: extreme weather events, such as heavy rain, droughts and floods, will increase due to climate change. Their increased frequency will lead to growing harvest risks for German agriculture, in some cases to drastic crop failures in the Global South, and to the occurrence of natural hazards, as in the case of the flood catastrophe in July 2021. Insurance against such extreme weather events is currently being discussed in politics and science as an option for adapting to climate change: What role can and should private and public actors play in insuring climate risks? How does insurance provide incentives for the private sector to adapt to climate change? Are insurance solutions socially equitable?