MCII presents at RESULTS UK Parliamentary event

MCII member RESULTS UK has organised this event on Feb 23 2016, to raise awareness amongst MPs and other interested stakeholders about the potential of insurance, especially innovative parametric models, as one tool for strengthening the resilience of livelihoods amid growing climate shocks in developing countries.

The discussion explored the main opportunities and challenges for scaling up climate risk insurance to an additional 400 million poor and vulnerable people, as committed to through the G7 ‘InsuResilience’ initiative.

The panel was chaired by Rt Hon Andrew Mitchell MP and included Mohamed Beavogui (Director General of the African Risk Capacity), Dr. Koko Warner (Executive Director of the Munich Climate Insurance Initiative), Martyn Parker (Chairman of Global Partnerships at Swiss Re) and RESULTS UK’s Aaron Oxley.

Koko Warner described how insurance can help people move from a vicious cycle of poverty to a virtuous cycle of resilience. Climate shocks will increasingly disrupt journeys out of poverty, as illustrated by Dr Warner’s story of a previously flourishing smallholder farmer in Saint Lucia whose livelihood was destroyed by a hurricane. With a vast gap in insurance coverage for people in the global south (shown in the dark areas on the map), she posed a question to the room:“What will be the game-changer that enables us to each an additional 400 million vulnerable people?”This is what the G7 InsuResilience initiative is aiming for by 2020. Download Koko's presentation Initiates file downloadhere

Find out more about the event in RESULTS UK blog post Opens external link in new windowhere