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Edition 01/2018

InsuResilience Newsletter

Dear reader,

Welcome to the second edition of the InsuResilience Newsletter. Since the launch of the InsuResilience Global Partnership at COP23, a lot has happened! This edition puts a spotlight on data, technology and innovation needed for the design and implementation of climate risk insurance, a topic that was much discussed during the Global Partnership Forum in November last year. We hope you enjoy reading our newsletter!



IN FOCUS: Data, technology and innovation

InsuResilience in Conversation with: Marie-Louise Rakotondrafara, Meteorological Service Madagascar

Q: What role do meteorological services play in a world of changing climate?
A: Meteorological services in a changing world, in particular vis-à-vis climate change are key for evaluation. They are critical for taking stock of the manifestations of climate change a country is faced with. This means stocktaking of exposure profiles for different sectors with regard to climate impacts also at a national country level. Collecting and disseminating these data is one of the main roles of meteorological services...

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Building Climate and Disaster Resilience in Africa: Lessons from the African Risk Capacity

The African Risk Capacity (ARC) is a pioneering initiative that seeks to build resilience to climate risks across Africa by combining sovereign risk insurance with strengthening of disaster risk management (DRM) systems and frameworks. Findings from a formative evaluation of ARC have recently been published and provide important insights and lessons for the global conversation on climate risk insurance and, more generally, building the resilience of countries and vulnerable populations...

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Insurance Loss Data Sharing Projects for Climate Resilient Municipalities

As the first country in Europe, Finance Norway – the association for banks and insurance companies – have tested the usefulness of sharing 10 years of historic climate-related disaster loss data on asset level with 10 Norwegian cities and municipalities. “There is no doubt these loss data, particularly urban flooding loss data, are of extreme importance for more accurate investment in preventive measures and land use planning for the municipalities”, says Mia Ebeltoft, Project Manager for the private-public pilot project. "We need to clear out sensitive legal and technical issues, but the next step is to work towards a more permanent solution."

Fact sheet

Innovative Flood Index Insurance: Cooperation with the German Aerospace Center (DLR)

In December 2017, the implementation team for microinsurance solutions at Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH contracted the German Aerospace Center (DLR) with a grant agreement. The objective of the cooperation is an automated flood monitoring, which prospectively shall serve as a basis for a satellite-based flood index insurance...

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MiCRO: Innovation at Work to Expand Traditional Insurability Boundaries

MiCRO has developed an innovative and holistic risk management set of strategies against natural disasters, based on index insurance and a value-added program that makes the solution appealing, affordable and profitable. Esfuerzo Seguro, the first natural catastrophe index insurance product in Central America covering business interruption, was officially launched in November 2016. It covers the clients’ business interruption caused by drought, excess rain and earthquake....

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LATEST NEWS FROM THE GLOBAL PARTNERSHIP

VisionFund: Launch of the Largest Non-Governmental Climate Insurance Programme for African & Asian Smallholder Farmers

More than four million people in six countries are expected to benefit from the newly launched African and Asian Resilience in Disaster Insurance Scheme (ARDIS). According to VisionFund, the program is the world's largest non-governmental climate insurance program - more than 690,000 families from rural regions will benefit from ARDIS. To launch ARDIS, six VisionFund microfinance institutions participate and in the following years the programme will be extended to more countries...

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African Risk Capacity Bolsters Insurance Coverage through UN Partnership and Ground-Breaking New Products

One of several exciting advancements for the African Risk Capacity (ARC) was announced earlier this year at the African Union’s Annual Summit – a new partnership with the United Nations Economic Commission for Africa (ECA), working together to increase insurance coverage against climate risks for African states...

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Global Partnership Reaches a Member Base of 44

In November 2017, the InsuResilience Global Partnership for Climate and Disaster Risk Finance and Insurance Solutions was launched at COP23 in Bonn. Since then, more than 40 partners from governments, civil society, international organisations, academia and the industry have endorsed the Joint Statement on the InsuResilience Global Partnership and become a member. The Partnership is inclusive and open to stakeholders aligned to the vision and objectives of the Partnership. New partners are invited to join the Global Partnership and contribute to its objectives according to their respective capacities. If you wish to learn more or become a member of the Partnership, please check our website.

More information

Tonga Receives Record Insurance Payout Following Cyclone Gita

COOK ISLANDS, February 20, 2018 – In the wake of Cyclone Gita, the government of Tonga received a US$3.5 million payout from the Pacific Catastrophe Risk Insurance Company (PCRIC) based on its insurance cover against tropical cyclones. Funds were transferred after seven days of the cyclone event, providing the government with rapid-response financing to support disaster-relief efforts and effective service delivery to the affected areas...

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RISK TALK – an Exchange on Climate Risk Solutions

Do you have a question concerning climate risk transfer solutions? The interactive exchange community RISK TALK can provide you with a tailor-made answer from experts all over the world...

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Announcements

Understanding Risk for Financial Resilience – Partnership Day on 14 May 2018, Mexico City

The World Bank Group and UNFCCC are organising an "Understanding Risk for Financial Resilience – Partnership Day" as a side event of the Understanding Risk Conference in Mexico City on 14 May 2018. Participants will explore the role of risk information across core technical steps that governments follow while implementing financial resilience solutions to manage the financial impact of risk.

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new publications

Five Ways Governments Can Support Agricultural Insurance

Agricultural insurance can play an important role in securing farmers' livelihoods and boosting the efficiency of the agricultural sector, but access to agricultural insurance remains low. To explore how governments can support efforts to scale up agriculture insurance, the ILO's Impact Insurance Facility organised a Peer Learning Platform for Policymakers in Kenya in July. Five lessons were drawn on how governments can support agricultural insurance.

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InsuRisk Tool Assesses Readiness for Climate Insurance

At COP23 in November 2017, the new InsuRisk assessment tool was introduced to assess the disaster risk of low to middle income countries and their readiness to accommodate insurance solutions. The tool was developed on behalf of the InsuResilience Secretariat by the United Nations University’s Institute for Environment and Human Security (UNU-EHS) and Social Impact Partners. The prototype of the tool shall provide guidance for the selection of potential target countries under the InsuResilience Global Partnership.

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Upcoming Events

04-06 April 2018 NAP Expo 2018
Sharm El Sheikh, Egypt
11-12 April 2018 Intermet Asia
Suntec, Singapore
20-22 April 2018 Spring Meeting IMF & WBG
Washington D.C., USA
14-18 May 2018 Understanding Risk
Mexico City, Mexico
22-24 May 2018 Innovate4Climate
Frankfurt, Germany
For more events check our website

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The Secretariat of the InsuResilience initiative is hosted by GIZ on behalf of the Federal Ministry for Economic Cooperation and Development

Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH
Friedrich-Ebert-Allee 40
D-53113 Bonn, Germany
Email: secretariat@insuresilience.org

Registered offices
Bonn and Eschborn, Germany

Registered at
Local court (Amtsgericht) Bonn, Germany: HRB 18384
Local court (Amtsgericht) Frankfurt am Main, Germany: HRB 12394

Photo credits:
Fondriest Environmental/flickr.com, Pablo Tosco / Oxfam, vg.no-flooding in Norway, Jorge Barrientos / MICRO, KfW-Bildarchiv / photothek.net, African Risk Capacity, InsuResilience, Department of Foreign Affairs and Trade / Australia, World Bank / GFDRR