The objective of the event is to delve into the possibilities that insurance and risk transfer mechanisms offer to address Loss and Damage (LnD) caused by climate change.

This session will provide a comprehensive exploration of the opportunities and limitations inherent in insurance, its value for the Loss and Damage fund, and its possible roles within the landscape of funding arrangements set to be agreed upon at COP28. It will also emphasize the role of climate analytics and how it can, for instance, enhance the accuracy and reach of insurance products within the context of climate-induced disasters. Furthermore, the event will present examples and experiences of insurance to manage LnD, fostering a dynamic and insightful discussion among key stakeholders.

By the end of this event, attendees will have gained a deeper understanding of the challenges and opportunities associated with insurance and risk transfer in addressing LnD, and will be better equipped when considering innovative solutions to inform policies in the fight against climate change.