Highlights This paper analyzes how a portion of the current disaster risk finance architecture is serving developing countries. We focus on the three regional risk pools— CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) (referred to throughout as “CCRIF”); African Risk Capacity (ARC); and Pacific Catastrophe Risk Insurance Company (PCRIC)—that offer parametric disaster insurance to developing countries. Disaster risk finance instruments, including insurance, should be deployed in combination to address the various “layers” of risk, but few countries appear to be following

Disasters affect the poor and vulnerable people in the developing world adversely. These people suffer disproportionately due to their higher vulnerability and exposure and lower ability to cope and recover. The impact of climate change is further amplifying this vulnerability and addressing this requires a multi-layered and multi-stakeholder approach. The InsuResilience Global Partnership brings together stakeholders from the Vulnerable 20 group (V20) and the G20 countries, multilateral development organizations, private sector, civil society organizations and academia. This partnership works

There are many opportunities for the greater integration of Ecosystem-based Adaptation (EbA) and insurance for risk reduction, and many challenges that remain. The substantive engagement between the insurance and environmental sectors is relatively new. Thus, it is hardly surprising that few fully integrated Climate Risk Finance & Insurance (CRFI) & EbA products (e. g., reef insurance) currently exist, and that such solutions face some challenges. That said, there are many common interests and significant opportunities which could help improve integration of CFRI with EbA and more broadly

Gender-responsive Climate Risk Insurance (CRI) schemes can provide risk protection that addresses differences in women and men’s vulnerability to both climate risks, and disaster-induced wellbeing loss. Within this framework in late 2018 the InsuResilience Global Partnership made a clear commitment to take proactive steps to integrate an intentional focus on gender within the execution of its mandate. This commitment was informed by the findings of an initial background paper ‘Applying a gender lens to climate risk finance and insurance’ which identified a gap in the exploration of the gender