MCII Contribution to the InsuResilience Global Partnership and V20

Project Overview

There is increasing recognition among the international community of the need for urgent and concrete action in mitigating climate change and addressing its impacts by effectively supporting particularly vulnerable countries’ own efforts to manage climate change induced disaster risk. Well-designed climate risk insurance – when applied in conjunction with other disaster risk management measures and strategies – can protect people against climate shocks by acting as a safety net and buffer shortly after an extreme weather event. In 2015, we saw a major shift in political narratives about how climate change related risks are addressed moving away from an attitude of coping with impacts (ex-post) to that of effectively managing risks before they occur (ex-ante). 

By initiating a Climate Risk Insurance Initiative (InsuResilience) the G7 countries acknowledged the central role insurance plays in a comprehensive climate risk management approach. InsuResilience aims to increase the number of poor and vulnerable people in vulnerable developing countries who have access to direct or indirect insurance coverage against the negative impact of climate change-related hazards by up to 400 million by 2020.

Under the overall guidance of the German Federal Ministry for Development and Economic Cooperation (BMZ) and in cooperation with the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), we are contributing to InsuResilience by providing strategic and technical advice to BMZ & and the InsuResilience Secretariat, facilitating dialogue among G7 stakeholders, including private sector, civil society and target countries, and undertaking research on the nexus between resilience, insurance and risk reduction.

In this project, we are acting as a member and advisor to the InsuResilience Global Partnership, which brings together representatives of the G20 and the V20 (Vulnerable Twenty Group of Ministers of Finance) and representatives of international organizations, the private sector, civil society and academia. 

In that context, we are also the Co-Chair of the Partnership's Principle and Impact Working Group and provide technical advisory and support to the V20. The latter pertains to the Group's engagement with the Partnership and the development of the Sustainable Insurance Facility (SIF), a V20-led implementation initiative.

Latest News

MCII Background Note on Climate and Disaster Risk Financing in the Context of Nationally Determined Contributions Initiates file downloadRead more 


Kick-Off: V20-led Sustainable Insurance Facility at Climate Action Summit in New York Opens internal link in current windowRead more


Key step for V20 economies to make a mark on global financial protection agenda Opens internal link in current windowRead more


InsuResilience Global Partnership Seen as Key Collaboration Between V20 and G20 Countries Opens internal link in current windowRead more


New Paper published: Climate Risk Insurance: Transparency, Participation and Accountability Opens internal link in current windowRead more


G7 continue their work on CRI under Canadian Presidency Opens internal link in current windowRead more


New Paper published: Impact Evaluation of Climate Risk Insurance Approaches Opens internal link in current windowRead more


01 December 2017: Webinar on Innovations in Measuring the Climate Resilience Impacts of Insurance. Find out more Opens internal link in current windowhere


4 July 2017, MCII Workshop: Climate Risk Insurance: Opportunities, Challenges and Framework Conditions.

Read the workshop report, Initiates file downloadhere


German State Secretary Kitschelt calls for global partnership for climate risk insurance at Petersberg Dialogue, expansion of InsuResilience Opens external link in new windowRead more


MCII launches latest research results on how to implement the Pro-Poor focus of InsuResilience at COP-22 in Marrakech Opens internal link in current windowread more


 

Visit the InsuResilience website, Opens external link in new windowhere