Scaling insurance to transfer climate risk from the rural poor to financial markets is vital to enhance agricultural risk management in developing countries, but insurance programs need to address several challenges in order to improve resilience at scale.

Scaling insurance to transfer climate risk from the rural poor to financial markets is vital to enhance agricultural risk management in developing countries, but insurance programs need to address several challenges in order to improve resilience at scale.

Gender-responsive Climate Risk Insurance (CRI) schemes can provide risk protection that addresses differences in women and men’s vulnerability to both climate risks, and disaster-induced wellbeing loss.

Gender-responsive Climate Risk Insurance (CRI) schemes can provide risk protection that addresses differences in women and men’s vulnerability to both climate risks, and disaster-induced wellbeing loss.

Both Ecosystem-based Adaptation and Climate Risk Finance & Insurance can be used to enhance adaptation, reduce and transfer risk, and build resilience to the growing impacts from natural and human-made hazards. There is a nascent and growing interest in where these strategies may intersect and be mutually beneficial for adaptation.

Enhanced rainfed agriculture is particularly important in Africa, where 95% of agricultural production depends on rainwater and crop yields are amongst the lowest in the world. The main barrier to accelerating enhanced rainfed agriculture is investment.

Insurance can be a key tool in reducing vulnerability and promoting resilience. Countries with high insurance coverage recover faster from disasters, and increasingly, governments are recognizing the role and benefits of insurance in transferring risk from disasters. Yet there is a large and even widening ‘protection gap’ of underinsurance.

Minister of Road Transport and Highways Nitin Gadkari tabled the Motor Vehicles (Amendment) Bill, 2019, in Lok Sabha on July 15. The Bill seeks to amend the Motor Vehicles Bill, 1988 to address the issues of third party insurance, regulation of taxi aggregators and road safety.

Large-scale catastrophic and smaller recurrent disasters generate considerable economic losses. Over the past thirty years, damages from major disasters have increased significantly.

This paper presents and discusses new and established climate risk financing instruments and approaches and how they could better contribute to closing the protection gap in vulnerable countries.