InsuRisk assessment tool

Source(s): InsuResilience Global Partnership

In 2017, the InsuResilience Secretariat commissioned the United Nations University’s Institute for Environment and Human Security (UNU-EHS) and Social Impact Partners to develop a concept and methodology that provide transparent and comparable information on countries’ vulnerability towards climate and disaster risks and their readiness to accommodate insurance solutions. Such information is supposed to provide orientation for the prioritization of action within the InsuResilience Global Partnership and tailor support for potential partner countries.

The method has been designed with a view to the goals of the InsuResilience Global Partnership, i.e. to strengthen the resilience of developing countries and to protect the lives and livelihoods of poor and vulnerable people from the impacts of disasters through the use of climate and disaster risk finance and insurance solutions. This will be achieved by developing a global multi-stakeholder community of countries, experts and practitioners working on financial protection.

The resulting “Risk and Readiness for Insurance Solutions Assessment Tool” (InsuRisk Assessment Tool) assesses the climate and disaster risk of partner countries as well as their readiness to accommodate risk insurance and other risk transfer solutions. In line with the pro-poor focus of InsuResilience, the analysis has been focused on low and lower-middle income countries (n = 84). The tool’s modular design allows governments, insurers, implementing partners and researchers to select and combine required information based on their respective needs. A first prototype was released at COP23 in November 2017 in Bonn, Germany. An updated version is presented in this factsheet here.

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