The Role of Decision Support Tools for Public-Private Climate Risk Insurance Solutions

Organiser: MCII, DIE, LMF, PIK

Summary Description:

Globally, there is increasing concern of the impacts of extreme climate events on loss & damage of people and property. To support the WIM and the Clearing House for Risk Transfer (UNFCCC), innovative decision support tools are needed focusing on climate insurance solutions. Within this Side Event, MCII and DIE will present the results of an analysis on climate risk insurance in the NDCs, which DIE has summarised and visualised in its online tool called NDC Explorer. In addition, MCII will discuss the potential of the Economics of Climate Adaptation (ECA) framework to quantify the benefits of adaptation measures and insurance within a climate risk management approach. Moreover, the Oasis and PIK will present the concept of Oasis Loss Modelling Framework and the Oasis Hub, which provides a standardised, transparent and comparable climate risk assessment software and data market place. The H2020_Insurance initiative further explores floods, forest fires, typhoon and public health risks in Europe and agricultural risks in Eastern Africa and potential links to insurance systems.

Panel Speakers:

  • Christoph Gornott (PIK)
  • Tracy Irvine (Oasis Hub Ltd.)
  • Maxime Souvignet (MCII)
  • Julie Calkins (Climate-KIC)

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