Index Insurance Forum

Throwing the dice on climate risk insurance

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On the sidelines of the U.N. climate talks in Bonn this week, officials experimented with a game aimed at giving them a real-life flavor of the pressures to find the right response to worsening climate-related disasters, Thomson Reuters Foundation News reports. The game was invented by Pablo Suarez, a World Bank consultant in the Disaster Risk Financing & Insurance Program.

Global Index Insurance Facility's Manager Fatou Assah was at the event. "The game 'gives you a sense of what’s at stake'," Ms. Assah said. “You can lose it all. If you’re the minister of finance you realize the money has to come from my budget and next year I have to face parliament. You see you need to think carefully before you make these decisions."

Ms. Assah was also presenting GIIF in Bonn at the InsuResilience Global Partnership Forum's session on Transparency and Impact. The panel explored the different implementation different levels (meso, micro, macro)  for climate insurance and the monitoring and evaluation of the process for transparency and impact measurement.