Insurance Instruments for Adapting to Climate Risks: Moving towards Copenhagen, Barcelona Climate Talks, 2 November 2009

Insurance Instruments for Adapting to Climate Risks: Moving towards Copenhagen Barcelona Climate Talks, 2 November 2009 MCII MCIIs proposal Climate Risk Management Munich Climate Insurance Initiative MCII Climate Insurance Pool Risk Reduction Extreme Premiums paid by AF ($5 bn) Medium Support financed by AF ($2 bn) Insurance Climate Insurance Assistance Facility Common Events Support financed by AF ($3 bn) Rough estimated annual costs: $ 10 bn Questions Munich Climate Insurance Initiative MCII 1. How can disaster risk reduction and insurance help vulnerable countries and people? 2. What is essential in the negotiation text, with respect to disaster risk reduction & insurance? 3. What are the options for operationalizing risk reduction and insurance tools postCopenhagen info@climate-insurance.org, www.climate-insurance.org What Needs to be Done for the CAO (Copenhagen Agreed Outcome) Munich Climate Insurance Initiative MCII 1. Establish a risk management framework and request the COP to elaborate its operationalization in the context of two pillars: Disaster Risk reduction Pillar Insurance Pillar: Tier 1: Climate Insurance Pool Tier 2: Climate Insurance Assistance Facility 2. Include, under the financial provisions of the CAO, provisions for a fund or funding window for the two pillars - prevention and insurance Disaster risk reduction pillar and insurance pillar work hand-in-hand to facilitate vulnerability reduction and adaptation 3. Request COP to identify suitable operating entity and detail the operation of the two pillars between 2009 and 2012 And what happens after Copenhagen? Munich Climate Insurance Initiative MCII Scenarios 1. Strong Copenhagen Agreement with disaster risk reduction and insurance mechanism Move from ,,architecture" to more detailed implementation plan 2. Weak Copenhagen Agreement with mention of need for disaster risk reduction and insurance Utilize opportunities in Mexico and up to 2012 to move to mechanisms 3. Complementary measures: What we need to do anyway Bring disaster risk reduction and insurance (micro, meso, macro) to developing countries, expand awareness and coverage Thank you. in Copenhagen in 2009. info@climate-insurance.org www.climate-insurance.org Munich Climate Insurance Initiative MCII MCII will report back to the UNFCCC Dr. Koko Warner, MCII Executive Board Member c/o United Nations University Institute of Environment and Human Security (UNU-EHS) UN Campus, Hermann-Ehlerstr. 10 53113 Bonn, Germany Tel: +49 228 815 0226, Fax: +49 228 815 0299

Publication date: 
November, 2009
Language: 
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