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  • Climate risk insurance: Transparency, participation and accountability - an overview assessment of regional risk pools
    https://www.preventionweb.net/go/63134

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Climate risk insurance: Transparency, participation and accountability - an overview assessment of regional risk pools

Source(s):  Munich Climate Insurance Initiative (MCII)
United Nations University Institute for Environment and Human Security (UNU-EHS)

This paper aims to improve understanding of how the requirements of transparency, participation and accountability apply to three regional risk pools by developing corresponding assessment criteria against which the pools are then evaluated. The three risk pools studied are the Caribbean Catastrophe Risk Insurance Facility (CCRIF), the Pacific Catastrophe Risk Assessment and Financing Initiative (PCRAFI) and the African Risk Capacity (ARC). 

This paper discusses the importance of the three themes in the context of sovereign climate risk insurance as well as highlights their positive influence on ensuring that the pools benefit those most vulnerable to climate impacts, building public support and improving institutional effectiveness. In doing so, the author builds on desk-based research as well as a number of semi-structured interviews with individuals involved in work on and around those risk pools. 

It finds that – for all of the three pools – gaps remain, but also demonstrates they are making valuable efforts to increase their transparency, accountability and engagement with civil society. In concluding, the paper outlines a set of recommendations for several stakeholders on how to further improve on ‘good governance‘, encompassing civil society organisations, policy holders (governments), donor countries, the World Bank, and the regional risk pools themselves.



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  • Climate risk insurance: Transparency, participation and accountability - an overview assessment of regional risk pools
  • Publication date 2018
  • Author(s) Forest, Rosemary
  • Number of pages 42 p.

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