InsuResilience

The InsuResilience Global Partnership for Climate and Disaster Risk Finance and Insurance Solutions aims to strengthen the resilience of developing countries and protect the lives and livelihoods of poor and vulnerable people against the impacts of disasters and other climate risks. It was launched in 2017 and now includes more than 105 members comprised of country members (especially from the G20 and the V202 group of climate-vulnerable countries), private sector organisations, international organisations (including a number of multilateral development banks), implementing partners, academic institutions, and civil society organisations and networks.

It works to enable more timely and reliable post-disaster response and better preparation for climate and disaster risk, through climate and disaster risk finance and insurance solutions. This includes the development of comprehensive, risk-layered disaster risk finance strategies on a sovereign level, as well as on inclusive microinsurance schemes that foster resilience for households, enterprises, and smallholder farmers against the effects of extreme weather events. As such, it would complement ongoing efforts in countries to avert, minimize and address climate and disaster risks.

Why it matters 

The InsuResilience Global Partnership for Climate and Disaster Risk Finance and Insurance Solutions builds upon the G7 Climate Risk Insurance Initiative

The overall objective of the G7 Climate Risk Insurance Initiative is to stimulate the creation of effective climate risk insurance solutions and markets and the smart use of insurance-related schemes for people and assets at risk in poor and vulnerable developing countries. During the 2017 UN Climate Conference in Bonn, the G7 initiative was merged into the InsuResilience Global Partnership, which tackles a wider spectrum of challenges, broadens the reach to a wider set of actors and has set additional aims. The G7 initiative will continue to reach its original goal within the framework of the InsuResilience Global Partnership and its Vision 2025.

The initiative aims to expand the existing, and set up new risk finance instruments in vulnerable regions

The Partnership promotes the integration of these instruments into overarching climate policy and supports targeted measures to develop sustainable insurance markets in vulnerable countries.

The Partnership uses its convening power to establish a common agenda and standards among its diverse membership

It gathers countries, experts, and practitioners – from national and sub-national governments, international organisations, private sector, academia and civil society. These actors are working on financial protection at the political, research and strategic level.

Main areas of work related to climate mainstreaming:

The Partnership’s working groups facilitate the exchange of new ideas and expertise between members. It encourages members to actively engage with topics such as access to risk data, capacity building, gender-responsiveness, innovation, and new product development, etc. The results feed into the Partnership Forum and inform the High-Level Consultative Group (HLCG).

The working group on integrated approaches for climate and disaster risk management aims to support the Partnership’s vision to embed risk finance and insurance in comprehensive risk management, and thereby promote long-term resilience gains of vulnerable people. The mandate of the working group is to generate and disseminate knowledge on new and existing approaches that integrate disaster risk financing / insurance elements with other risk management components, ideally helping to overcome ‘either/or’ trade-offs between investments in risk reduction, preparedness, or risk transfer.

The Partnership also developed RISK TALK, an exchange community on climate change risk management, allowing for dialogue with global experts on climate change and risk management and stakeholders for optimal risk management solutions and effective risk management strategies. RISK TALK also provides immediate access to answers on questions shared in the community.