This paper examines climate change mitigation and adaptation from an insurance industry perspective, with particular reference to London and the USA. It illustrates how British insurers are increasingly shaping public policy and using new technology to manage the risks from climate change impacts and makes a plea for society to make more use of insurance expertise in future decision making. The industry is a “sleeping giant” much bigger and potentially more powerful than the fossil fuel industry in shaping the future through financial incentives and disincentives. The insurance industry has much to contribute, and increasingly would welcome a greater dialogue with the academic and political community. The paper has a “further reading” section, which includes two recent UN reports which illustrate the need for greater dialogue between experts in the USA and the UK. Hopefully this conference will help to create such a dialogue.