First-ever global climate risk insurance database launched
Source: Middle East Insurance Review | Dec 2017
A global online database to share good practices and innovative solutions in climate risk insurance has been launched by the Global Index Insurance Facility (GIIF), the Munich Climate Insurance Initiative (MCII), and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH (German Corporation for International Cooperation).
According to its creators, the database is the first independent, comprehensive source of information on the numerous types of climate risk insurance available that policymakers and practitioners can use to make informed decisions. It also aims to contribute to “successful and sustainable” climate risk insurance projects in climate-vulnerable countries.
The database, grounded in a GIIF online platform and managed by the World Bank Group, includes factsheets, videos and reports, compiled in a searchable online catalogue that users can filter by type, topic, country, region or organisation, in order to find the most relevant sources for their situation.
It is envisaged that the database will further create synergies among various efforts such as the Sendai Framework, Sustainable Development Goals, UNFCCC climate debate, and the G7 and G20 dialogues. Insurance was included in the Climate and Energy Action Plan for Growth by the G20 in July this year. M