Document / Publication
Center for American Progress (CAP)
This paper points to a lack of access to innovative insurance instruments - such as parametric risk insurance, which is specifically designed to pay out quickly in the aftermath of a natural disaster. This type of insurance gives countries a rapid injection of capital that can be vital in the early window before overseas assistance is effectively ramped up and delivered. In order to make innovative insurance and climate risk-management tools available, a critical gap in high-resolution data and cutting-edge modelling needs to be bridged.
The authors propose the following recommendations to the G7 (p. 4):