Innovative insurance solutions for climate change: how to integrate climate risk insurance into a comprehensive climate risk management approach

Warner, Koko, Yuzva, Kristina, Zissener, Michael, Gille, Susan, Voss, Janina and Wanczeck, Solveig (2013). Innovative insurance solutions for climate change: how to integrate climate risk insurance into a comprehensive climate risk management approach. UNU-EHS Report. UNU- EHS.

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  • Sub-type Research report
    Author Warner, Koko
    Yuzva, Kristina
    Zissener, Michael
    Gille, Susan
    Voss, Janina
    Wanczeck, Solveig
    Title Innovative insurance solutions for climate change: how to integrate climate risk insurance into a comprehensive climate risk management approach
    Series Title UNU-EHS Report
    Volume/Issue No. 12
    Publication Date 2013
    Place of Publication Bonn
    Publisher UNU- EHS
    Pages 52
    Language eng
    Abstract

    The report explores how insurance can enhance existing risk management approaches to assist affected populations and enhance prevention and risk reduction. Including risk transfer tools like insurance may in some cases also speed up recovery efforts after extreme weather events. By transferring some of the risk and the financial burden to a third party, the report finds evidence that some insurance programs have shielded national budgets of governments. Furthermore, insurance availability is correlated with better economic performance after-shocks such as weather-related hazard events (e.g. typhoons, hurricanes). On the household level, insurance has been shown to manage risks that would be too large for individuals to cover on their own after losing their assets in a natural catastrophe. The report also finds evidence of limitations and identifies opportunities for using insurance to manage climatic risks.

    Keyword Climate risk management
    Insurance solutions
    Climate change
    MCII
    Extreme weather
    Copyright Holder UNU-EHS
    Copyright Year 2013
    Copyright type All rights reserved
    ISSN 23040459
    ISBN 9783944535104
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    Created: Tue, 02 Sep 2014, 16:37:20 JST