Consultative Forums in 2019: "Climate and disaster risk: building resilience, bridging the protection gap"

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A summary article recapping the key takeaways from the 15th, 16th and 17th Consultative Forums, which took place in 2019 in Panama City, Panama, Johannesburg, South Africa and Dhaka, Bangladesh respectively.

Consultative Forums were jointly organised by the Access to Insurance Initiative (A2ii), the International Association of Insurance Supervisors (IAIS), the InsuResilience Global Partnership and the Microinsurance Network (MiN).

Bank Strategies in Catastrophic Settings: Empirical Evidence and Policy Suggestions

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The poor in developing countries are the most exposed to natural catastrophes and microfinance organisations may potentially ease their economic recovery. Yet, no evidence on MFI strategies after natural disasters exists.
 
This paper aims to fill this gap by building a dataset which merges bank records of loans, issued before and after the 2004 Tsunami by a Sri Lankan MFI recapitalised by Western donors, with detailed survey data on the corresponding borrowers.

The potential role of disaster insurance for disaster risk reduction and climate change adaptation

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The purpose of this paper is to explore the potential role of Index-based Disaster Insurance as a tool for climate change adaptation and social protection in developing countries. The paper will first provide an overview of recently piloted micro policies and macro policies. It will then outline several limitations of the micro approach as a tool for social protection, and move on to discuss the macro approach and its potential as a more sustainable instrument for humanitarian intervention.

Disaster insurance for the poor? A review of microinsurance for natural disaster risks in developing countries

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This study reviews microinsurance schemes that provide cover for natural disaster risks in developing countries. It is not intended to be exhaustive—many schemes are in the planning stages and there is only limited, open-source information—but to give an overview of the potential and the challenges of microinsurance for the poor. The study opens with a discussion of the benefits and limitations of risk transfer and risk pooling. The different organizational and institutional forms that microinsurance can take are described in section 3.

Needs assessment and feasability study on disaster microinsurance: Empirical findings from four provinces in Indonesia

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Microinsurance is assuming an increasingly important role within Munich Re, particularly in the light of recent natural catastrophes, many of which have hit sections of the world’s population which have neither insurance cover nor the possibility of access to other suitable hedging instruments. In close liaison with key market players such as microfinance institutions, non-governmental organisations and local insurance companies, Munich Re plays an active part in market developments.

The Potential of weather index insurance for spurring a green revolution in Africa

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This paper focuses on the potential of index-based weather insurance products for contributing to a green revolution in Africa.The authors begin by building a conceptual framework that links poverty, risk, and missing financial markets. Next, they present the case for why weather risk transfer and agricultural insurance can contribute to development. They then review the fundamental problems with traditional agricultural insurance products, which motivated efforts to develop alternatives such as index-based insurance products.

Financing disaster management in India: Possible innovations

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This paper analyses the current funding mechanism to finance disaster management in India. It looks at the drawbacks of the current system which is more focused on ex-post strategies. The paper then looks at possible ex-ante strategies that can strengthen the current mechanism, and provides relevant examples of other countries using such instruments. It also highlights the importance of a domestic insurance market, challenges of domestic insurance markets and makes suggestions on the possible features of a domestic insurance market that can be created in India.

ENSO business interruption index insurance for catastrophic flooding in Piura, Peru

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This concept note describes an innovative risk transfer product being introduced by La Positiva (a Peruvian insurance company). The three core sections of this concept note review the following: 1. The catastrophic weather risks in Piura associated with extreme sea surface temperatures 2. A description of the ENSO Business Interruption Index Insurance (EBIII)1 3. How lenders in Piura can use this insurance as a business interruption insurance leading to increased access and use of credit by smallholders

Robust decision making for sustainable and scale drought Index-based microinsurance in Ethiopia: Reducing weather related disaster risk with rural agro-insurance, in Microinsurance: An innovative tool for risk and disaster reduction

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The scope of the book is both to investigate the linkage between disaster risk reduction and Microinsurance and to address possible combinations of loans, savings and insurance schemes for low-income people to provide them with appropriate solutions for at least a partial risk reduction. The book provides an overview on the status and strategies of implementation in various risk sectors (life, health and natural disaster risks), highlighting existing methods, best practices and specific case studies of Microinsurance programmes and initiatives.

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