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

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Disasters affect the poor and vulnerable people in the developing world adversely. These people suffer disproportionately due to their higher vulnerability and exposure and lower ability to cope and recover. The impact of climate change is further amplifying this vulnerability and addressing this requires a multi-layered and multi-stakeholder approach. The InsuResilience Global Partnership brings together stakeholders from the Vulnerable 20 group (V20) and the G20 countries, multilateral development organizations, private sector, civil society organizations and academia. This partnership works to strengthen the resilience of developing countries and protect the lives and livelihoods of poor and vulnerable people against the impacts of disasters.

The central objective of the partnership is to enable more timely and reliable post-disaster response through Climate and Disaster Risk Finance and Insurance solutions. These solutions aim to reduce humanitarian impacts, help poor and vulnerable people recover more quickly, increase local adaptive capacity, and strengthen local resilience. This complements ongoing efforts in countries to avert, minimize and address climate and disaster risks.

Against this background, an analysis of the current status of Climate and Disaster Risk Insurance (CDRI) has been developed by the MSC (MicroSave Consulting) in collaboration with the Gesellschaft für Internationale Zusammenarbeit (GIZ), and the Regulatory Framework Promotion of Pro-poor Insurance Markets in Asia (RFPI-Asia), together with the InsuResilience Secretariat which shares first findings of the CDRI landscape in Asia and the Pacific.