Summary |
Climate change brings about a new set of major economic risks arising from changing weather patterns, extreme weather events and rising sea levels. Most at risk are developing countries who, despite considerable post-disaster donor aid, have been bearing the major brunt of disaster-related losses. One adaptation solution that is rapidly gaining the support of countries and international donors is a risk transfer to the global reinsurance and capital markets.
This volume, a special issue of the journal Climate Policy, explores the role that insurance-based mechanisms can play in helping developing countries prepare for climate change. It offers a unique and comprehensive perspective on the potential role of insurance solutions in global adaptation to climate change and attempts to engender debate on the role of insurance in reducing global emission and encouraging climate-friendly behaviour.
Eugene Gurenko is a Lead Insurance Specialist at the Insurance Practice of the World Bank. His most recent projects include risk assessments and the design of catastrophe risk transfer solutions for Turkey, Romania, Bulgaria, Iran, the Caribbean islands and India
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