Call for Proposals invited for Climate Risk Insurance Project

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About the Organization

Natural disasters are a major impediment to development in many countries, undermining sustainable development, threatening earlier achievements in poverty alleviation and leading to loss of lives and livelihoods. With climate change extreme weather events such as floods, storms and droughts are expected to increase in frequency and intensity. Aid often comes too little, too late – around one to six months after the disaster has struck - increasing the impacts of natural disasters by twofold and more. As an essential element of comprehensive risk management, climate risk insurance can mitigate the negative consequences providing reliable and fast financial support in the aftermath of extreme weather events.

The mission of the InsuResilience Solutions Fund (ISF) is to support innovative solutions to mitigate these negative impacts of climate change. Therefore ISF fosters the development of needs-based and financially sustainable climate risk insurance products in developing and emerging countries, increasing the resilience of poor and vulnerable households against extreme weather events and natural catastrophes. As implementing programme of the InsuResilience Global Partnership the ISF is an important contribution of the German Government funded by KfW Development Bank to achieve the target of the international initiative on climate risk insurance ’InsuResilience’.

About the Grant

Climate risk insurance is an important instrument complementing risk reducing adaptation measures to mitigate the impacts of extreme weather events on agricultural production and food safety.

With the 6th Call for Proposals the ISF wants to highlight the importance to adopt climate smart agricultural practices (CSA) and thus foster the much needed transformation of the agricultural sector in our partner countries.

In order to strengthen this important link and emphasise potential co-benefits of agricultural insurance on the adoption of CSA practices, ISF invites project partners to submit innovative proposals for climate risk insurance products complementing climate smart agricultural practices under a separate window established specifically for its 6th Call for Proposals (CSA window).

Eligibility

General ISF funding criteria remain valid also for this specific CSA window (see: items eligible for grant-based funding under Pillar III). Therefore only costs directly or indirectly linked to the development of the specific climate risk insurance product may be co-funded by ISF.

All documents relevant for the application process and further guiding documents are published here.

For any questions, please do not hesitate to contact us via info@insuresilience-solutions-fund.org.

Terms of funding

The ISF provides grant-based co-funding of up to EUR 2.5m only to Partnerships consisting of public and/ or private organisations

which want to

• develop new climate risk insurance products, especially for governments or
• scale-up already existing products, e.g. into other regions or to other groups

in order to

increase the resilience of poor and vulnerable people in developing countries to climate change

where at least one partner is

• representing the demand and needs of end-beneficiaries (e.g. national or regional government bodies, NGOs, local insurers)
• willing to act as a risk taker (e.g. reinsurance company)
• located in the target country and legally authorised to sign a potential Grant Agreement

which provide an own contribution

• matching the grant funding (in-kind and/or as financial contribution, including funds from their own resources and co-financing2)
• Further parties, e.g. other product implementing partners such as risk modelling agencies, insurers, brokers, can additionally be involved.

Deadline

Friday, 17 December 2021, 23:59 CET

For more information please check the Link

Tags Food, Agriculture and Nutrition Others