Insurance experts set out vision for climate adaptation scheme
Business Green.com, 17 March 2009
At last week's climate change conference in Copenhagen, the Munich Climate Insurance Initiative (MCII), a non-profit coalition of insurance firms, NGOs and research bodies, have set out a couple of proposal to world leaders urging them to consider plans for a $5bn (£3.5bn)-a-year global climate change insurance scheme that would provide developing countries with cover against the increased risk of climate change-related droughts and extreme weather events.
Under the proposals, rich countries would use part of the funds they have pledged to help developing nations adapt to climate change to provide them with insurance cover against extreme weather events such as typhoons and floods.
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