InsuResilience Global Partnership
A global partnership born from a G7 initiative that brings together governments, insurers and international organizations to extend climate risk insurance to poor and vulnerable people.
In poor countries, a drought or a cyclone is paid for after the fact: selling livestock, pulling children out of school, humanitarian aid that arrives late. The partnership starts from the idea that part of this cost can be financed in advance through insurance and risk transfer tools, provided someone pays for the start-up. It underwrites nothing itself: it coordinates public funding that subsidizes premiums, technical assistance and data collection, and steers projects toward existing mechanisms (regional pools, index insurance, microinsurance). Its yardstick is the number of people covered, directly or indirectly. That yardstick says little about the quality of coverage: a person protected by a sovereign policy paid to the government does not necessarily receive any money.
The G7 meeting at Elmau in June 2015 set a goal of covering up to 400 million additional people in vulnerable countries by 2020; the global partnership that grew out of it was launched on November 14, 2017, at COP23 in Bonn, and its "Vision 2025," presented in September 2019, targets 500 million people covered by 2025.
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