Natural disasters are a major impediment to development in many countries, undermining sustainable development and leading to loss of lives and livelihoods. The course will help to understand the spectrum of solutions offered by innovative climate and disaster risk insurance products as an essential element of a comprehensive risk management strategy. Participants will be introduced to the process of product development as well as tools and models relevant for climate and disaster risk analysis, insurance product design and pricing.
1) Understanding and pricing climate and disaster risks, 2) relevance of climate risk insurance for risk mitigation and climate adaptation, 3) impact of climate change on climate risk assessment and risk transfer.
Participants will learn about :
- the relevance of climate and disaster risks in developing and emerging economies and their negative impact on sustainable development
- international initiatives and support programs to increase access to climate risk insurance and overcome existing barriers of market development
- the spectrum of existing climate and disaster risk insurance approaches
- existing risk analysis tools and models to assess climate and disaster risks and implement them to define comprehensive climate adaptation policies
- the different elements of the product development process for climate risk insurance products
- the elements of the pricing process and premium components
and apply the presented tools and models in case studies.