MCII helps “G7 InsuResilience” implement climate insurance for the vulnerable

At COP21 in Paris, the Munich Climate Insurance Initiative (MCII) presented key findings on how the G7 InsuReslience Initiative can meet the needs of poor and vulnerable people facing climate risks.

At the Elmau G7 Summit in June this year, the G7 launched the unprecedented InsuResilience Initiative. The initiative aims, by 2020, to give up to 400 million additional people in the most vulnerable developing countries access to direct or indirect climate risk insurance. MCII is a key advisor to InsuResilience and facilitates effective stakeholder dialogue. It helps ensure that the initiative will meet the needs of the target group: climate-vulnerable people living on less than US $2 per day.

“Communities living on the frontlines of climate change are already feeling the negative impacts of climate stressors today,” said Dr. Koko Warner, MCII Executive Director. “Well designed Insurance schemes can be an important tool to help poor and vulnerable people manage weather-related risks. G7 is driving a paradigm shift in how we think about insurance and how it can benefit the poor. In the coming years, we want to see not only a mindset change, but also a new way of practicing insurance that includes poor people struggling with climate change.”

Read the full article here.

A graphic overview of the initiative can be downloaded here.