2017•11•16 Bonn The Guardian
In the second week of COP23 in Bonn, the issue of climate risk insurance came to the fore as the InsuResilience Global Partnership officially launched, reiterating its aim to provide insurance for 400 million people against the damage being caused by global warming.
On the same day, the Munich Climate Insurance Initiative was awarded the Momentum for Change award for its pioneering work bringing microinsurance to some of the Caribbean’s most vulnerable communities.
Writing in the Guardian, the paper’s environment editor, Damian Carrington, focused on the story of Walter Edwin, a beneficiary of MCII’s award-winning Livelihood Protection Policy, who had traveled to Bonn to tell his story.
Carrington wrote: “Key to the scheme is slashing bureaucratic assessment and claims procedures. With some, like Edwin’s, which was set up by the Munich Climate Insurance Initiative, the policy pays out simply when weather data passes trigger points. In September, $55m was paid to 10 Caribbean countries within 14 days of hurricanes Irma and Maria wreaking disaster on the islands.”