In this paper, the author analyzes the organization of fl ood risk insurance, the risk which signifi cantly deteriorates due to climate change in Germany, the United Kingdom and Serbia. Th e author used selected studies and works, national legislation, insurance conditions and materials of specialized organizations. Climate change signifi cantly aff ects the frequency and severity of the harmful consequences of fl ood risks, which, due to their catastrophic consequences and territorial exposure, require more effi cient prevention measures and the design of their insurance. Floods are increasingly occurring as a result of heavy rainfall and high winds that simultaneously enhance their harmful potential. Th erefore, insurers cannot ignore the impact of climate change on the conditions for taking risks, determining the insurance premium, excesses and all other aspects related to these risks. From the point of view of risk assessment and selection techniques, the principle of fl ood insurability will certainly be applied in the future. Th erefore, refraining insurers from insuring those risks where the recurrence of fl oods is more frequent than a certain number of years (fi ve or ten years), based on the historical development of claims or classifi cation of zones into the danger class with increased frequency, will certainly pose a problem for policyholders. In Germany, fl ood risk cover is provided similarly to a number of Serbian insurers, ie. as an additional risk to basic property risks. However, the German insurance practice provides an opportunity to insure a number of other natural risks as a supplementary risk in the form of a natural risk package. It should be pointed out that there are also insurers in Serbia, whose policy terms regarding the cover scope more or less coincide with the insurance of named risks in Great Britain. Th ese are insurance conditions that represent an extension of the so-called traditional insurance of named fi re risks, which certainly represents a good step in the direction of modernizing the household insurance conditions in Serbia.