MCII side event: What Role Can Risk Transfer Play in Loss & Damge?
What Role Can Risk Transfer Play in Loss & Damage: Presenting Practical Examples from the MCII-led Project “Climate Risk Adaptation and Insurance in the Caribbean”
15 May 2012, 20:00-21:30
In preparation for COP-18, Parties are addressing the topics of Adaptation and Loss & Damage in Bonn. Negotiators are seeking examples in practice to guide their thinking towards COP-18 – the MCII side event aims to help Parties prepare for decisions in Doha by assisting delegates in exploring concepts of how to move from ideas to implementation.
Experts on risk management, insurance and adaptation will share insights on innovative approaches from communities, governments and regions of how to catalyse loss avoidance and reduction. They will highlight a project initiated by MCII with CCRIF, MicroEnsure and Munich Re which uses a regional approach to avoid, manage and transfer weather-related risks for low-income groups. The project brings together a regional risk management facility with a microinsurance broker to expand access to DRR and risk transfer tools to help vulnerable communities adapt to weather-related extremes.
The panel will highlight practical implications and present recommendations on how innovative risk reduction and risk transfer solutions could be used to successfully address Loss & Damage.
We invite further expert insights on challenges, lessons learned and ways forward on insurance as a complementary tool in broader adaptation efforts.
Session 1: Presenting Practical Examples from the Caribbean
- Koko Warner (MCII, hosted at UNU-EHS)
- Annelie Janz (International Climate Initiative)
- Dietrich Broesche (MUNICH RE)
Session 2: What Role can Risk Transfer Play in Addressing Loss & Damge?
- PETER HOEPPE (MUNICH RE)
- SILVIO TSCHUDI (ALLIANZ)
Avenues for Using Insurance Approaches in the Context of Loss & Damage
MCII / UNEP-FI joint workshop
16 May, 13:30-17:30
This closed-door workshop will bring together UNFCCC delegates with resource experts from the insurance sector. Its aim is to discuss and explore:
- The scope for risk management and insurance approaches in addressing the risks posed by climate change as well as potentially resulting loss and damage, particularly in developing countries;
- How public interventions at the national level – in the form of disaster isk reduction measures; appropriate insurance regulation; the provision of weather-related data and regional forecasts of climate hange impacts; etc. – can enable and catalyse risk management and insurance approaches in ways that effectively contribute to avoiding loss and damage, and achieving adaptation objectives;
- The role of the Convention in creating enabling environments and/or pecific mechanisms where risk management insurance approaches can contribute to building resilience, particularly of vulnerable communities in developing countries.
- How stakeholders with relevant skills, expertise and resources, including insurance companies, can contribute to the SBI Work Programme on Loss & Damage moving towards COP18 and beyond.
Opening remarks: MCII & UNEP-FI
Thomas Loster (MunichRe Foundation): THE BIG PICTURE – WHAT CAN INSURANCE APPROACHES AND THE INSURANCE INDUSTRY OFFER ON ADAPTATION? HOW CAN THEY HELP AVOID OR REDUCE LOSS AND DAMAGE? WHAT ARE THE LIMITATIONS?
Remco Fischer (UNEP FI): The nuts and bolts – Insurance, climate risk, and loss & damage: roles and perspectives of the global insurance industry (sneak preview of the results of a global survey among insurers)
Insurance practitioner insights: How can governments and regulation at different levels (local, national, international) mobilise insurance mechanisms and insurance companies to deliver risk management and risk transfer services to vulnerable communities, particularly in developing countries?
- SILVIO TSCHUDI (ALLIANZ SE)
- Matthieu Choux (AXA)
- Dietrich Broesche (Munich Re)
Negotiator insights (invited):
- What types of input for the loss & damage work programme process would you like to see from the insurance industry and relevant experts?
- What types of practical action and specific services would you like to see the insurance industry deliver?
- Latin America
Small group brainstorming sessions:
- What role could the Convention play in facilitating risk management and insurance approaches, including by the insurance industry and other stakeholders, to address the needs of vulnerable communities, particularly in developing countries?
- What are avenues, instruments and mechanisms which the Convention could use and deploy?
- What could COP18 deliver on insurance approaches in Loss and Damage?
- Developing a Roadmap towards COP18 and beyond.