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There is growing awareness of the need for rigorous climate and disaster risk finance and insurance (CDRFI) evidence. MCII is shepherding a process to development an evidence roadmap to generate strategic analytics, promote evidence-based action, and develop (and share) best practice. This process kicked off at a virtual workshop, hosted by the Munich Climate Insurance Initiative (MCII) in partnership with the InsuResilience Global Partnership, from 8-11 September, 2020. The workshop was based on a series of evidence briefs, drafted by experts and capturing the state of knowledge in a variety...
Women in developing countries are particularly vulnerable to climate, financial and health risks due to environmental, political and social factors. As a result, the insurance industry has long seen women as a high-risk consumer segment and overlooked this market that has a significant potential for economic and social development. Based on lessons learned and progress achieved with implementation partners over the past 10 years, the GIIF program acknowledges that by empowering women with insurance protection, both economic growth and long-term shared prosperity are attainable and sustainable...
14
Oct
Women in developing countries are particularly vulnerable to climate, financial and health risks due to environmental, political and social factors. As a result, the insurance industry has long seen women as a high-risk consumer segment and overlooked this market that has a significant potential for economic and social development. Based on lessons learned and progress achieved with implementation partners over the past 10 years, the GIIF program acknowledges that by empowering women with insurance protection, both economic growth and long-term shared prosperity are attainable and sustainable...
8
Jul
To understand the impact of COVID-19 on agriculture insurance operations, GIIF conducted a survey with 11 of its implementing partners in Sub-Saharan Africa and Asia. Due to the pandemic, the general feedback on policy renewal and new business generation for the agriculture business line offers a concerning outlook. Many expect a decrease in farmer enrollment due to diminishing disposable income and travel restrictions affecting field visits and in-person product awareness workshops. Likewise, limited mobility for project monitoring teams, crop cut specialists and aggregators as well as...
7
Jul
Since our April blog , more field reports and anecdotal evidence have emerged to gain a more holistic picture of the COVID-19 impact on smallholder farmers. The spillover effects of this health crisis are unprecedented, spreading across all sectors with major damages to food systems, transportation, trade and tourism as well as altering businesses and daily lives around the world through control measures. In our work, we also see farmers suffering economic impact from business shutdown, movement constraints and supply chain disruption. For example, inputs/animal feed are not available or...
6
Jul
GIIF: In order to provide an introduction to our readers, could you please share with us the main priority areas of the InsuResilience Global Partnership and the activities under its Working Groups? Dr. Zwick: Launched at the COP23 in November 2017, the InsuResilience Global Partnership has the vision, to strengthen the resilience of developing countries and to protect the lives and livelihoods of poor and vulnerable people from the impacts of disasters by promoting the adoption and use of climate and disaster risk finance and insurance (CDRFI) solutions and approaches towards faster, more...
29
Apr
At the time of writing, disruptions on food production, agricultural supply chains and markets have not been materialized; however, the pandemic is directly affecting food systems through impact on food supply and demand, and indirectly through decreases in purchasing power as well as logistical barriers and trade blockages. Learning from past pandemic, for instance during the 2014 Ebola crisis, lockdowns in West Africa had several negative impacts on farmers’ livelihoods including curbing access to markets both for input purchase and produce sale as well as reducing the availability of...
29
Apr
With the outbreak yet to be contained, the COVID-19 crisis is steadily amassing damages across various sectors such as health, transportation, trade, tourism, to name a few. While the impact/pressure to agriculture sector is less pronounced, disruption in the value chains has been observed in dynamics of food supply and demand in conjunction of reducing purchasing power, logistical barriers and trade blockages. With the start of typhoon, monsoon and hurricane season in different parts of the world as well as weather uncertainty in the upcoming crop seasons in arid and semi-arid regions,...
21
Apr
Ingrid-Gabriela Hoven, Director General at Germany’s Federal Ministry for Economic Cooperation and Development (BMZ) reflects in an interview with GIIF on Germany’s commitment to fight climate change . At COP25, Germany pledged more than EUR 100million to support climate risk finance and insurance solutions under the InsuResilience Global Partnership, EUR10million of which are to support GIIF in 2020-2022. GIIF: What do you think about the outcome of the most recent COP25 in Madrid? COP25 stayed well behind expectations as it did not deliver concrete results in many crucial areas. Several...
Highlights This paper analyzes how a portion of the current disaster risk finance architecture is serving developing countries. We focus on the three regional risk pools— CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) (referred to throughout as “CCRIF”); African Risk Capacity (ARC); and Pacific Catastrophe Risk Insurance Company (PCRIC)—that offer parametric disaster insurance to developing countries. Disaster risk finance instruments, including insurance, should be deployed in combination to address the various “layers” of risk, but few countries appear to be...
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