ICLEI webinar: Risk transfer strategies and climate insurance at the local level
This webinar is organized by ICLEI – Local Governments for Sustainability, a member of the LEDS GP
The insurance industry is an important stakeholder in climate change adaptation and disaster risk reduction due to its extensive experience in risk management—from identifying, assessing, preventing and reducing risk (e.g. catastrophe risk modeling, land use planning, building codes), to financial risk transfer (i.e. insurance). Financial risk transfer in the form of insurance and other risk financing solutions provide economic security to local governments and communities and safeguards sustainability efforts against weather-related disasters. Examples include catastrophe insurance, micro-insurance, social safety nets, and municipal budget reserves for disasters.
This webinar will explore disaster risk reduction and risk transfer strategies for cities through insurance, from a global expert opinion and a local government view.
Butch Bacani, Programme Leader of the UNEP Finance Initiative‘s Principle for Sustainable Insurance Initiative (PSI) will discuss the work of the PSI, particularly research and activities relevant to building climate and disaster resilient cities and communities.
Lykke Leonardsen, Head of Climate Unit from the city of Copenhagen will share the city’s experience in risk reduction and risk transfer through insurance. Lykke will discuss the benefits and limitations of risk transfer strategies in the form of insurance for cities.