How can climate risk insurance be linked with other forms of social protection to help vulnerable communities absorb climate shocks?

The Challenge

Developing countries are disproportionately affected by climate change. With the increased frequency of climate shocks (such as floods and storms) and stresses (such as droughts or changing rainfall patterns), strengthening communities’ capacity to respond is key to creating climate resilience. Climate risk insurance -- and other forms of social protection -- can help.  But how can they be linked to best support the most vulnerable communities?

The Contest

The UN Climate Resilience Initiative A2R and InsuResilience are seeking innovative ideas for linking climate risk insurance with other forms of social protection to further enhance communities’ ability to absorb the impacts of climate change.

• Well-designed climate risk insurance schemes can act as a buffer for people shortly after an event occurs and protect people from falling (back) into poverty.
• Social protection (such as cash transfers, retraining, and other programs that reduce poverty and vulnerability), is increasingly recognised as a way to help communities adapt and improve incomes in the long term.

The global community is invited to submit proposals until February 11th, 2018.

The Prizes

The UN Climate Resilience Initiative (A2R) and InsuResilience will provide the Judges’ Choice Winner with seed funding for implementing the proposal (worth 40,000 euros) and mentoring, training and technical assistance (worth 12,000 euros).  More details and prizes are in the contest's Details page.