Climate Risk Insurance and Adaptation in the Caribbean - 16_II_129 - 1055 - Internationale Climate Initiative (IKI)

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Climate Risk Insurance and Adaptation in the Caribbean

As of: November 2019

Objective and activities

The project aims to scale-up the implementation of climate risk insurances in those countries, where the Livelihood Protection Policy (LPP) is already available and by introducing the LPP to additional countries. In addition to that, the measureable links to disaster risk reduction policies and practices of participating countries shall be increased. The project also aims to increase the awareness of livelihood protection, climate change adaptation, and insurance in participating countries and to contribute knowledge to regional and international policy processes (e.g. UNFCCC). As a result, the number of potential clients and their access to climate risk insurance shall be increased as will be the number of companies offering climate risk insurance products to vulnerable populations.

Predecessor project(s)
Regional institutions, adaptation, and insurance: expanding coverage for medium-level weather extremes in vulnerable countries using risk reduction and innovative insurance solutions

State of implementation/results

  • The project support the Deutsche Welle to produce a film about the micro insurance product on St. Lucia.
  • MCII won the prestigious 2017 Momentum for Change Award spearheaded by the UN Climate Change secretariat (UNFCCC). On 12 October, MCII was honoured for its efforts to bring key actors together to address climate risks and poverty by implementing climate risk insurance for vulnerable people in developing countries.

Project data

Belize, Grenada, Jamaica, Saint Lucia, Trinidad and Tobago

Implementing organisation:
Munich Climate Insurance Initiative (MCII)

Partner institution(s):
  • Caribbean Catastrophe Risk Insurance Facility (CCRIF) - Grand Cayman
  • Diverse climate change relevant institutions in the respective partner countries/Diverse klimarelevante Institutionen in den entsprechenden Partnerländern
  • Munich Climate Insurance Initiative (MCII)

BMU grant:
€ 2,628,510

11/2016 till 10/2019