Over the past 30 years in the Caribbean, floods and tropical storm damage affected 1.5 million people directly and caused over USD 5 billion in damage. The increasing frequency and intensity of extreme weather events stresses societies and natural systems.
On behalf of the International Climate Initiative of the German Ministry for the Environment, Nature, Conservation, Building and Nuclear Safety, the Climate Risk Adaptation and Insurance in the Caribbean (CRAIC) II project aims to upscale, refine and integrate climate risk insurance (CRI) solutions (launched in phase I) within a broader framework for disaster risk reduction (DRR) strategies and facilitate public safety nets and public private insurance solutions for vulnerable people.
The project addresses:
- National Policy and Insurance Regulation
- Product Refinement, Market Development and Expansion for the Livelihood Protection Policy (LPP)
- Linking Community Resilience with Livelihood Protection
- Awareness Raising and Outreach.