Workshop on Innovative Insurance Solutions for Climate Change

Climate Analytics’ Florent Baarsch participated in the workshop organised by MCII (Munich Climate Insurance Initiative) and GIZ on “Innovative Insurance Solutions for Climate Change in a Comprehensive Risk Management Approach – Developing a Toolkit”, May 12-13, 2014. There were thirty-two representatives from the insurance and reinsurance industry (AXA, Allianz and Munich Re), the African Risk Capacity, the World Food Programme, the Programme Bureau of the German Ministry for Environment, IFC, GIZ, academia (Columbia University and UNU) and insurance regulators from Pakistan.

Participants worked together to develop a toolkit to support policymakers in implementing risk transfer (and reduction) mechanisms at different levels: household, national and regional levels. The issues considered at each of the levels were:

- identifying the key activities / approaches
- defining stakeholders for each activity
- discussing preconditions for implementation of activities

- sequencing the options for proposed activities

A fact sheet presenting the main outcomes of the workshop will be available at the SB40 Session in Bonn and there will be a MCII side-event concentrating on this topic. The toolkit is to be launched at COP 20 in Lima.