MCII/GIZ Workshop: Innovative Insurance Solutions for Climate Change in a Comprehensive Risk Management Approach

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  • 2014•05•12     Bonn

    The Munich Climate Insurance Initiative (MCII) and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) will host a workshop to build on the experience gathered in 2013 and move the technical support by the expert community on risk transfer, insurance, risk management and adaptation to important policy making processes one step further.

    Workshop at a glance

    To inform the policy discussion on comprehensive risk management approaches and to support climate negotiators in their short and long-term strategies to address loss and damage, MCII and GIZ will host this 2-day expert workshop on Innovative insurance solutions for climate change: Creating a toolkit on how to integrate insurance into a country-driven climate risk management approach for practitioners and policymakers experienced in weather risk insurance, disaster risk reduction, and adaptation.  The workshop will offer experts an opportunity to design a step-by-step country-driven risk management strategy that includes insurance approaches, based on real-country scenarios provided in the workshop; to share case studies and illustrations on how to encourage a comprehensive risk management approach in emerging economies and developing countries; and a chance to explore innovative insurance approaches to address the negative consequences of climate change if society’s efforts to mitigate and adapt are not sufficient.

    Workshop Objectives

    • Comparative analysis of existing cases and lessons learned in implementing distinct insurance approaches (indemnity products, index-based weather insurance, generic vs. specific insurance) in emerging markets and developing countries to create a stronger evidence base on how to link insurance into a wider risk management strategy;
    • Devise a toolkit with critical steps that are needed to integrate insurance approaches into national risk management planning taking note of existing challenges and limitations and ways to overcome them;
    • Examine the different roles of the relevant stakeholders and how they can work together to support a comprehensive climate risk management strategy that includes insurance and to determine possible institutional arrangements (actors, partnerships) that can be considered to effectively integrate insurance tools into a wider risk management framework with possible case studies and examples;
    • Explore innovative insurance solutions for different climate change scenarios including: slow-onset events, global average temperature rise above 4°C by the end of this century, etc.;
    • Offer recommendations to climate negotiators trying to develop and implement a strategic adaptation plan that reduces climate risk and includes insurance.