Applicability of Risk Transfer Tools to Manage Loss and Damage from Slow-onset Climatic Risks

This paper aims to provide inspiration for how risk transfer tools such as insurance can facilitate approaches to address loss and damage associated with the impacts of climate change including slow-onset events. In particular it aims to show how insurance can be used in conjunction with a wide set of climate risk management tools to bolster societal resilience. The paper offers an overview of slow-onset climatic processes, provides a description on the current innovative tools and approaches to help reduce loss and damage associated with slow onset events provides case studies, and discussed some of the gaps and challenges related to implementation and enabling environment needed to manage climate risks in developing countries.