Climate Risk Adaptation and Insurance in the Caribbean (CRAIC) Project
Year
Location
Organization
Role
Description
June 2018- Present
St. Lucia
Munich Climate Insurance Initiative (MCII)
Research Lead (UWI) - leading a team of researchers to conduct a rapid appraisal of resilience indicator to determine the impact of a weather index-based insurance product (Livelihood Protection Policy - LPP) – on the resilience of policyholders. The aim is to conduct a rapid appraisal of vulnerability patterns for farmers and fishers in St. Lucia.
The Climate Risk Adaptation and Insurance in the Caribbean (CRAIC) project assists Caribbean countries in their efforts to increase social resilience and adapt to climate change by incorporating climate risk insurance within a broader framework of disaster risk reduction strategies. The project aims to refine and expand the index-based parametric Livelihood Protection Policy (LPP) to make it more affordable and accessible to all people in the Caribbean, especially individuals and communities vulnerable to climate risk. The CRAIC project works together with policymakers, regulators, and ministries to create an enabling environment to foster the growth of climate risk insurance. The CRAIC research component, conducted by Climate Analytics together with the University of West Indies (UWI), aims at creating empirical evidence of links between community resilience and livelihood protection schemes, more specifically insurance.