Climate change is one of the biggest challenges facing humanity. The impact they have on the intensity and frequency of extreme weather events accentuates the growing need for protection from uncertainty and risk, meaning potential loss. Traditional insurance is still considered to be a crucial and indispensable factor in the process of predicting, assuming and managing risk. Although climate change poses an increasing risk to the insurance market, it also provides a unique opportunity for insurance companies to be a part of the solution. This paper will therefore examine a historical development of an impact climate change has had with the role of insurance companies in the market affected by it. Their dual role in such a dynamic and unpredictable market, makes them anticipate changes in the risk of natural disasters while globally participating in slowing down the intensity of climate change. By effective and early investment in prevention, they try to avoid possible future losses, which is why the emphasis in this paper will be on methods of preventing the consequences of climate change. From traditional ones such as physical or financial risk control to alternative risk transfer methods. All mentioned above will be covered by the concept of responsible sustainable financing, which includes environmental, social and management factors, meaning risks. Finally, empirical research on the significant sample of the working population in the Republic of Croatia will determine a relation between losses caused by weather events and the value covered by insurance. By comparing an obtained correlation with the one analysed in international and European databases, we will examine the correctness of the claim that the value covered by insurance is smaller than the losses suffered. The aim of this paper is to raise awareness of the risk of natural disasters, methods of reducing exposure to them along with encouraging adaptation to climate change. The above should not be a choice but an obligation since the uncertainty of the consequences of climate change has turned into our reality.