Colombia’s geographic vulnerability to the El Niño - Southern Oscillation will remain a major environmental challenge. By 2026, intensifying El Niño droughts and La Niña flooding events could trigger significant insured losses across agriculture, infrastructure and energy sectors. Drought-driven wildfires in the Andean region may escalate property claims, while excess rainfall could lead to landslides and flooding, testing catastrophe models that historically underpriced Colombian risk. This trend will open opportunities for parametric insurance linked to rainfall or river levels, as well as demand for broader catastrophe covers, boosting appetite for this type of insurance, which has been growing in the country.