The world is getting warmer and natural hazards are becoming more intense, likely bringing higher economic losses in the future. Today, four major weather perils result in expected economic losses of USD 200 billion annually. With more severe weather coming, economic losses are set to rise. The study analysis finds …
The world is getting warmer and natural hazards are becoming more intense, likely bringing higher economic losses in the future. Today, four major weather perils result in expected economic losses of USD 200 billion annually. With more severe weather coming, economic losses are set to rise. The study analysis finds …
This guide is for governments, conservationist practitioners and insurers to design and introduce insurance schemes to reduce human-wildlife conflict (HWC) and promote human-wildlife coexistence. Certain species such as elephants are major causes of HWC across Africa and Asia. They trample or eat crops, predate livestock, damage property and sometimes cause …
Extreme weather events are worsening across Australia. Since the Black Summer bushfires in 2019-20, there have been 11 declared insurance catastrophes. Since January 2020 insurers have received almost 788,000 claims related to floods and storms that have been declared catastrophes or significant events. As the climate warms, the risk of …
The 2022 Climate Risk Insurance Annual Report highlights key insights and achievements from WFP-supported Climate Risk Insurance (CRI) programmes. It provides deep dives into WFP-supported CRI programmes in each country, as well as stories from the field, interviews with partners, and insights into how WFP promotes gender equality and women’s …
Insurance coverage plays an important role in protecting households, businesses and governments from the financial impacts of climate-related disasters. However, climate change is expected to increase the frequency and/or intensity of a range of climate-related (weather) perils and could potentially limit the availability of affordable insurance in the future. Risk …
The case study comes from Kenya, where the International Institute for Environment and Development (IIED) started the Livelihoods Insurance from Elephants (LIFE) project with funding provided by the UK government's Darwin Initiative. The project started to explore the potential for insurance in mitigating negative impacts from human-wildlife conflicts. At the …
Flood exposure is likely to increase in the future as a direct consequence of more frequent and more intense flooding and the growth of populations and economic assets in flood-prone areas. Low-income households, which are more likely to be located in high-risk zones, will be particularly affected. This paper assesses …
In this brief, the World Food Programme (WFP) is introducing its flagship integrated climate-risk management approach, the R4 Rural Resilience Initiative (R4), to address both the climatic and non-climatic drivers of vulnerability in Haiti. WFP Haiti is combining a set of integrated risk management strategies, including access to microinsurance, as …
Recognizing the high level of social and economic vulnerability and discrimination faced by sanitation workers, the Government of India (GoI) and several state governments have initiated many programs and schemes, including social protection measures for Sanitation workers. The main objective of the research is to identify the enablers and barriers …
India is one of the most vulnerable countries to the impacts of climate change, ranking 7th out of 181 in the Global Climate Risk Index 2021. More than 75% of Indian districts are hotspots for extreme climate events. It is clear that climate change poses a significant threat to India, …
This discussion paper highlights opportunities in 2022 in the various policy forums of international climate, development, and humanitarian policy, to narrow the protection gap through Climate and Disaster Risk Finance and Insurance (CDRFI). The paper offers an overall view of the discourse landscape and is aimed primarily at those political …
The Ministry of Road Transport and Highways, in consultation with the Insurance Regulatory and Development Authority of India, has published Motor Vehicles (Third Party Insurance Base Premium and Liability) Rules, 2022 vide notification dated 25.05.2022. The rules shall come into force on 1st June, 2022. In the said rules, base …
WFP is making climate risk insurance solutions work for food insecure populations. In 2021, WFP protected over 2.7 million people in 18 countries with climate risk insurance, getting closer to reaching its target of 4 million people by 2026. During the unfortunate climate-related disasters that happened this year, WFP was …
This report focuses on the role of insurance in addressing climate risks in cities. The objectives of the report are to provide a common understanding of the current role of the insurance sector in the urban space related to climate resilience and to identify barriers and opportunities for closing the …
Climate and disaster risk finance and insurance (CDRFI) solutions can play an essential role in climate change adaptation, enabling governments, businesses, and individuals to protect their financial security in the event of shocks and providing information and incentives for improved management of risks. National Adaptation Plan (NAP) processes will guide …
The Ministry of Road Transport and Highways (MORTH) on August 05, 2021 has issued the Draft Central Motor Vehicles (Motor Vehicle Accident Fund) Rules, 2021. The following provisions have been made: The Motor Vehicle Accident Fund shall be constituted in accordance with sub-section (1) of Section 164B of the Act, …
This case study presents the lessons learned from a digital transformation project in the field of index insurance, undertaken by the National Agricultural Insurance Company of Senegal (CNASS) with the support of the World Food Programme and Sofrecom. Digital payment solutions, especially those offered by mobile money and money transfer …
Climate change will have an impact on natural resources, water being one of them, affecting the availability of water including increasing the intensity of floods and droughts. It is also a known fact that the impact of natural hazards is felt more in developing countries compared to developed countries and …
The Insurance (Amendment) Bill, 2021 was introduced in Rajya Sabha by the Minister of Corporate Affairs, Ms. Nirmala Sitharaman, on March 15, 2021. The Bill amends the Insurance Act, 1938. The Act provides the framework for functioning of insurance businesses and regulates the relationship between an insurer, its policyholders, its …
In this paper, we try to cover a whole range of polices and schemes that have been undertaken in India to finance disaster risk resilience (DRR). This paper tries to emphasise the importance of DRR in dealing with natural catastrophes by integrating DRR and climate change adaptation strategies for the …
