InsuRisk: Disaster Risk and Readiness for Insurance Solutions

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    Project Manager :
    Michael Hagenlocher

    The ambitious goal of the G20 InsuResilience Global Partnership is to increase the number of poor and vulnerable people in developing countries with access to direct or indirect insurance coverage against climate-induced losses and damages by up to 400 million by the year 2020. As there is currently no standard or methodology for benchmarking countries with poor and vulnerable populations, the InsuResilience Secretariat commissioned UNU-EHS and Social Impact Partners to develop a holistic and objective concept, methodology and tool for guiding and prioritizing the selection of potential InsuResilience partner countries. The main objectives of the proposed InsuRisk Assessment Tool are: (1) to reach the main target group, i.e. the poor and most vulnerable, by providing a tool that can support the prioritization of countries according to their vulnerability, risk and corresponding needs; (2) to give orientation for donors regarding a needs-based partner country selection and associated funding decisions and to provide transparency to external actors regarding the identification and prioritization of further InsuResilience partner countries; and (3) to support the categorization of countries according to their needs for climate risk solutions and their local insurance market’s development status.

    An initial version of the InsuRisk country index has been developed by UNU-EHS in collaboration with Social Impact Partners and the InsuResilience Secretariat in 2017 (phase 1), and updated in 2018 (phase 2). Phase 3, which runs until the end of 2020, will will have a geographic focus on small island developing states (SIDS) and aim at a general update of the tool for the year 2020. Next to UNU-EHS (project leader), the consortium for phase 3 also includes Social Impact Partners (SIP), the Munich Climate Insurance Initiative (MCII), the Ludwig-Maximilians-Universität München (LMU), and the InsuResilience Secretariat.