Launch of novel InsuRisk Assessment Tool at COP23
Bonn, 07/11/2017 – At the start of COP23 in Bonn, UNU-EHS, Social Impact Partners and the InsuResilience Secretariat launch the InsuRisk Assessment Tool, which assesses not only the disaster risk of low to lower middle income countries, but also their readiness to accommodate insurance solutions. The tool aims at providing answers to the following key questions:
- What is the level of vulnerability and climate and disaster risk of a country?
- What is the short-term capacity of a country to cope with hazardous events?
- How high is the remaining residual risk?
- Which long-term strategies exist in these countries to tackle future disaster risk?
- What is a country’s readiness to accommodate insurance solutions?
The innovative prototype shall provide guidance for the selection of potential target countries under the G7+InsuResilience initiative. It was designed with a view to the InsuResilience goal and target group, i.e. to enable access to climate risk insurance for an additional 400 million poor and vulnerable people by 2020. Juxtaposing a country’s vulnerability level with its readiness for insurance solutions, the analysis allows for developing country profiles and potential target countries for insurance solutions. Countries characterized by both high vulnerability and high readiness for insurance solutions include, for example: Papua New, Guinea, Rwanda, Eritrea, Angola, Mozambique, Burkina Faso, Mauritania, Benin, and Zambia, etc. In stark contrast, countries with high vulnerability but low readiness include countries such as Congo, Niger, the Central African Republic and Chad.
The key findings are summarized in the InsuRisk Assessment Tool Factsheet: InsuRisk Tool Factsheet
Following the consultations at COP23, UNU-EHS and its partners will further update the prototype.