Promoting Risk Insurance in the Asia-Pacific Region: Bottom-up Lessons for the Future Climate Regime under UNFCCC

Event: National Symposium on Climate Change Adaptation
Date: 17th Nov 2011

The post-2012 climate regime is expected to provide impetus to climate risk reduction, moving forward from mitigation only approach it has taken so far. Several proposals have already been submitted by Parties to the Convention on how best such risk reduction can be obtained under the Convention. However, most of these proposals seem to miss the ground realities and hence probably may not be able to achieve what they intend to achieve. This presentation explains the reasons behind such conclusion for promoting risk insurance in some of the most vulnerable countries and provides a way forward on how risk insurance can be promoted in the region. It also discusses pros and cons of having a regional risk insurance facility on the lines of Caribbean Catastrophic Risk Insurance Facility.