Climate Change and Insurance: Disaster Risk Financing in Developing Countries

✍ Scribed by Eugene Gurenko, Michael Grubb

• Publisher: Earthscan Publications Ltd.
• Year: 2007
• Tongue: English
• Leaves: 97
• Series: Climate Policy Series
• Category: Library

✦ Synopsis

Climate change brings about a new set of major economic risks arising from changing weather patterns, extreme weather events and rising sea levels. Those most at risk are developing countries, who, despite considerable post-disaster donor aid, have been bearing the major brunt of disaster-related losses. One adaptation solution that is rapidly gaining support of countries and international donors is a risk transfer to the global reinsurance and capital markets. This volume, a special issue of the journal Climate Policy, explores the role that insurance-based mechanisms can play in helping these countries to prepare for climate change. It offers a unique and comprehensive perspective on the potential role of insurance solutions in global adaptation to climate change.

✦ Table of Contents

Contents......Page 4
List of contributors......Page 5
Foreword......Page 8
1. Objectives of the publication......Page 9
2. Executive summary......Page 10
1. Impact of climate change on global economic development......Page 16
2. Access to insurance......Page 19
3. Donor aid and development lending for natural disasters......Page 23
4. Conclusions......Page 28
References......Page 29
1. Introduction......Page 30
2. Climate insurance proposals......Page 32
3. Towards a complementary strategy for implementing Article 4.8......Page 34
4. Thoughts on a second tier of support......Page 40
5. Challenges and opportunities......Page 41
6. Summary and issues......Page 43
References......Page 44
1. Introduction......Page 46
2. Current disaster finance mechanisms......Page 47
3. Shortfalls of the current disaster risk financing models......Page 48
5. Design of the CCFM: some key aspects......Page 50
6. Conclusions......Page 55
References......Page 56
1. Introduction......Page 57
2. The current role of the private insurance market in catastrophe risk transfer......Page 58
3. Insurance market failure......Page 61
5. International catastrophe insurance schemes......Page 64
References......Page 66
1. Introduction......Page 67
2. Role of insurance in disaster loss financing in India......Page 69
3. Current climate risk insurance approaches in India......Page 72
4. Findings from recent experience and lessons learned......Page 75
5. Concluding thoughts......Page 78
References......Page 79
1. Introduction......Page 81
2. Typology of potential negative impacts of climate policy measures on developing countries and quantitative estimates......Page 82
3. Principal options for alleviating losses......Page 85
4. Conclusions......Page 90
References......Page 91
2. Insurance-based mechanisms and the global dialogue on adaptation to climate change......Page 92
3. Public–private partnerships in climate insurance......Page 93
Title index for volume 6 (2006)......Page 95
Keyword index for volume 6 (2006)......Page 96
Author index for volume 6 (2006)......Page 97