Weathering a risky climate: the role of insurance in reducing vulnerability to extreme weather
The people on the frontlines of the climate crisis are the world’s poorest and most vulnerable communities. Insurance can play an important role in protecting families from falling into poverty after extreme weather shocks, promoting more secure livelihoods, and transforming society's response towards more proactive management of climate risks. Yet there is a vast gap in insurance coverage across the developing world. There is a now an opportunity to channel growing political momentum towards a concrete goal of reaching an additional 400 million poor and vulnerable people with climate risk insurance by 2020 through the G7 InsuResilience Initiative. This report presents a new set of 'Pro-Poor Principles for Climate Risk Insurance', as a gold standard by which to evaluate donor investments, together with a collection of case-studies demonstrating the impacts of groundbreaking climate risk insurance initiatives.