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Edition 04/2019

InsuResilience Newsletter

Dear reader,

We are pleased to present you with the fourth and last edition of our newsletter in 2019. 

The InsuResilience Secretariat is grateful to all members and partners who have helped the Partnership grow in 2019. Your commitment and tireless efforts have been demonstrated in numerous formats and on many occasions through working groups, events, knowledge and financial support. This dedication has enabled us to take another great step forward in strengthening the resilience of developing countries and protecting the lives and livelihoods of poor and vulnerable people.

Our Vision 2025 will empower us to continue making significant progress in generating momentum for long-term climate resilience, creating trust and fostering ownership among all the members, safeguarding developmental gains and the livelihoods of the most vulnerable people, andexpanding the broader vision of sustainable development.

What would the end of 2019 be without looking back on the highlights of the partnership and its members? Since the last issue of the newsletter, we have seen animated discussions at our Annual Partnership Forum, an active involvement of the InsuResilience Global Partnership at COP25 side events, the awarding of a scholarship for women working in insurance regulatory authorities of vulnerable countries, publications of various studies, and other activities, which we are happy to highlight within this newsletter. 

The Annual Partnership Forum showed once again the value of coming together, exchanging innovative ideas, updating on projects that are up and running and sharing details to concrete climate and disaster risk finance and insurance solutions. 

This newsletter looks back at the last quarter of the year and leaves space for our members to share and update on actions that stood out in the last months. The newsletter will start by reporting back on the freshly gained inputs from COP25. Furthermore, this edition also features the Partnership’s 2019 Annual Report. If you want to dive deeper in our activities, don’t miss out on that! 

Happy reading or watching: check out the new video about the InsuResilience Global Partnership!

 


vIDEO: insuresilience Global Partnership

The InsuResilience Global Partnership in Action

Have you ever wondered how pre-arranged risk finance and insurance enhances reslience and how the InsuResilience Global Partnership promotes needs based solutions? This new video takes us onto a journey on how the Partnership's solution space helps governments and people recover quicker and more effectively when climate impacts occur. Here, it showcases examples of how micro and macro insurance work in two different scenarios where time is of the essence to recover from disasters.

watch video

ANNUAL REPORT 2019

Annual Report: From Global Ambition to Local Action: A Multi-Year Vision for Enhanced Resilience

In 2019, the Partnership’s year was marked by strengthened and converging efforts related to climate resilience as it built on the momentum generated by the resilience and adaptation strand at the UN Climate Action Summit in September. The InsuResilience Global Partnership has emphasized a holistic and multidimensional approach to financing climate and disaster risk from its inception. The Partnership’s Vision 2025 and the new Work Plan announced in June 2019 reflect this approach.

read more

The INSURESILIENCE GLOBAL PARTNERSHIP AT cop25, madrid

The 3rd InsuResilience Global Partnership Forum: a solution-centered dialogue among a thriving community

The 3rd Partnership Forum took place in December 2019 at the margins of COP25. Around 150 people from G20, V20 and other countries, international organisations, civil society, the private sector and academia came together to discuss the role of climate and disaster risk finance and insurance solutions for strengthening adaptation and resilience, with a particular focus on the Caribbean and Latin America.

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Towards early action: BMZ and the InsuResilience Global Partnership convene key actors to discuss how disaster risk finance can build on early warning systems

A side event at the German Pavilion engaged leading institutions to explore how early warning systems can be used to shift risk financing mechanisms to an even earlier, anticipatory stage, and help governments pre-vent climate shocks from becoming disasters.

read more

The Natural Disaster Fund (NDF) Deutschland was launched at the COP25

 
At the COP25, the Natural Disaster Fund (NDF) Deutschland was launched by the German Federal Ministry for Economic Co-operation and Development (BMZ), the German Development Bank KfW, Global Parametrics (GP), and leading global reinsurer Hannover Re.

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InsuResilience Global Partnership at the Development and Climate (D&C) Days at COP25

The InsuResilience Global Partnership supported this year’s D&C Days as a host partner. It also co-shaped a session on social protection and its role in building climate resilience. As part of theme “Building resilient food and agriculture systems”, the session shed light on how integrating climate risk management into social protection offers an opportunity to support the poorest households, reduce vulnerabilities, and mitigate negative coping strategies. The integration of risk finance and insurance elements as a means to strengthen the adaptive capacity of social protection systems was a central part of these discussions. 

read more

Resilience Roundtable: Accelarating Action to Build a Resilient 1.5°C World

On 10th December at the UNFCCC COP25, the Global Resilience Partnership and the United Nations Anticipate, Absorb, Reshape Initiative (A2R) convened a Resilience Round Table under the framework of the Marrakech Partnership for Global Climate Action. The InsuResilience Global Partnership co-branded and co-shaped this high-level round table which sought to address the question of how to accelerate action and investment into transformative change so that those most affected by climate change are able to thrive and live prosperous lives in the face of climate change.

Building on previous resilience events at UNFCCC Conference of the Parties and UN Climate Action Summit, this Round Table engaged senior government officials, executives of multilateral organisations, heads of civil society organisations, and private sector executives, in an inclusive discourse, steering clear of speeches and presentations, focusing on solutions-focused exchanges . 

Through short 3-minute interventions and participation via a digital interactive tool, participants were engaged in an interactive dialogue. A number of key themes were highlighted, including: i). the need for a breakdown of competition and silo approaches towards greater institutional collaboration; ii). the need for inclusive and participatory approaches that engage youth, indigenous groups, local communities and women in the development of solutions; and iii). the need for nature-based solutions for adaptation in pursuit of greater resilience of the poor and vulnerable.


Latest news from the global Partnership

Senegal receives insurance payout from the African Risk Capacity to address severe drought

Senegal has received a payment of about USD 23 million under the African Risk Capacity’s (ARC) drought insurance product. Due to the early announcement of the disbursement and a prearranged contingency plan, measures could be taken promptly to support the people affected by this year's drought.

read more

Program Alliance Meeting underlines collaboration between implementing programs and the V20

On 20 October 2019, the Program Alliance, the InsuResilience Global Partnership’s collaborative delivery vehicle consisting of donors and implementing partners, gathered in Washington D.C. on the margins of the World Bank Annual Meetings for its second meeting in 2019. The discussions centered around key priorities in implementation towards the recently announced InsuResilience Vision 2025, and a strengthened collaboration with the Vulnerable Twenty (V20) Group of Ministers of Finance. 

read more

Coping with Climate Change by Transforming Development Loans into Shock Resilient Loans (SRL)

KfW and the West African Development Bank (BOAD) launch a new financing instrument to provide financial relief to Member States in the aftermath of a disaster.

read more

A Call to Action after the United Nations Climate Action Summit

In reaction to the announcements made on September 22nd, CSO Representatives of the High-Level Consultative Group of InsuResilience Global Partnership, Beth DeHamel of Mercy Corps and Vitumbiko Chinoko of CARE, made the following statement.

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Broader collaboration and Partnerships are Crucial to Building Resilience

In 2019, the Access to Insurance Initiative (A2ii), the Microinsurance Network (MiN) and the International Association of Insurance Supervisors (IAIS) jointly with InsuResilience Global Partnership and local partners organised three Consultative Forums to address these two key questions: what are the roles and responsibilities of each stakeholder to reduce the protection gap in climate risk insurance? What are the urgent steps that they have to adopt to make this happen?

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Announcements

InsuResilience Solutions Fund – Third call for proposals is open!

The InsuResilience Solutions Fund (ISF) is pleased to announce the opening of its third Call for Proposals. Concept Notes for the development of climate risk insurance products can be submitted until February 7th 2020.

On behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), KfW Development Bank launched the ISF in October 2017 to increase the resilience against extreme weather events at the micro, meso and macro level.

read more

Winners of the Leadership and Diversity Program for Regulators Scholarship!

 
The Access to Insurance Initiative (A2ii) and the InsuResilience Global Partnership have jointly sponsored the participation of two senior insurance supervisors and high potential women from their authorities for the 2019 cohort of the Leadership and Diversity Program for Regulators developed by Women’s World Banking and faculty from Oxford University’s Saïd Business School.

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New publications

Integrating Gender Considerations into Different Models of Climate Risk Insurance (CRI)

Gender-responsive Climate Risk Insurance (CRI) schemes can provide risk protection that addresses differences in women and men’s vulnerability to both climate risks, and disaster-induced wellbeing loss. Within this framework in late 2018 the InsuResilience Global Partnership made a clear commitment to take proactive steps to integrate an intentional focus on gender within the execution of its mandate.

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Ecosystem-based Adaptation and Insurance: Success, Challenges and Opportunities

There are many opportunities for the greater integration of Ecosystem-based Adaptation (EbA) and insurance for risk reduction, and many challenges that remain. The substantive engagement between the insurance and environmental sectors is relatively new. Thus, it is hardly surprising that few fully integrated Climate Risk Finance & Insurance (CRFI) & EbA products (e.g., reef insurance) currently exist, and that such solutions face some challenges. That said, there are many common interests and significant opportunities which could help improve integration of CFRI with EbA and more broadly Nature-based Solutions (NbS), which will lead to innovations beneficial to both sectors and, most importantly, to improved resilience outcomes for vulnerable people and for nature.

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First insights: Landscape of Climate and Disaster Risk Insurance (CDRI) in Asia and the Pacific

Asia is highly exposed to catastrophe events that cause damage and erode welfare and economic gains. The nature of hazards faced across the region varies significantly. Asia has seen some of the deadliest disasters in history, such as Cyclone Nargis in Myanmar and the 2004 Indian Ocean Tsunami Disasters in Asia have also been some of the most costly, such as the Tohoku earthquake and tsunami and the 2011 Thai floods.

Floods are the most persistent hazard across the region. Analysis indicates that the average annual economic losses from flood disasters in Asia could surge to USD 500 billion or more by 2050.

read more

Upcoming Events

21. - 24. Jan 2020 World Economic Forum
Davos, Switzerland
09. - 13. March 2020 Sustainable Insurance Africa Week
Victoria Falls, Zimbabwe
23. - 30. March 2020 The Worldwide Online Climate Change Conference
Online
For more events check our website

Every day, we post climate and disaster risk finance and insurance stories on Twitter. Join the conversation by following us.

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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:
Ralf Ruehmeier/InsuResilience Secretariat, InsuResilience Secretariat, GIZ, KfW, A2ii, ISF/Kfw 

Data protection:
For information on our data protection regulation, please visit the InsuResilience Global Partnership website