UK government backs microinsurance as a climate change adaptation measure

An article in Insurance Day last week revealed that the UK government has thrown its weight behind microinsurance as an adaptation method to help poor communities to deal with the impacts of climate change. Addressing a ‘Risk Insight’ seminar at the Lloyd’s Old Library last Friday Matthew Wyatt, head of climate and environment at the Department for International Development (DFID) said that the UK government is pushing for insurance to be recognised as part of the response to climate change at the Copenhagen Climate summit next month.

This is a fantastic development for RESULTS. In August our grassroots activists wrote to Secretary of State for International Development Douglas Alexander and Secretary of State for Energy and Climate Change Ed Miliband to ask them to push for exactly this. The response then was less enthusiastic, expressing support for microinsurance as an adaptation method but refusing to commit to pushing for its inclusion in the Copenhagen text.

RESULTS activists followed up to argue the case for microinsurance being included at the summit, explaining to DFID that the scale-up of microinsurance requires the ability to share risk between different climactic zones, which means that a global system is key to making insurance available to more of the world’s poor. International summits such as Copenhagen are crucial fora in which to make this happen.

Well done to everyone who has been involved in this campaign – this development clearly shows that your tenacity is paying off!

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