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Climate Risk Insurance
Climate risk insurance is a type of insurance designed to mitigate the financial and other risk associated with climate change, especially phenomena like extreme weather. The insurance is often treated as a type of insurance needed for improving the climate resilience of poor and developing communities. It provides post-disaster liquidity for relief and reconstruction measures while also preparing for the future measures in order to reduce climate change vulnerability. Insurance is considered an important climate change adaptation measure. Critics of the insurance, say that such insurance places the bulk of the economic burden on communities responsible for the least amount of carbon emissions. For low-income countries, these insurance programmes can be expensive due to the high start-up costs and infrastructure requirements for the data collection. It is theorised that high-premiums in high risk areas experiencing increased climate threats, would discourage settlement in those ar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms. Furthermore, it usually involves something in which the insured has an insurable interest established by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Climate Risk Adaptation And Insurance In The Caribbean
Climate is the long-term weather pattern in an area, typically averaged over 30 years. More rigorously, it is the mean and variability of meteorological variables over a time spanning from months to millions of years. Some of the meteorological variables that are commonly measured are temperature, humidity, atmospheric pressure, wind, and precipitation. In a broader sense, climate is the state of the components of the climate system, including the atmosphere, hydrosphere, cryosphere, lithosphere and biosphere and the interactions between them. The climate of a location is affected by its latitude/longitude, terrain, altitude, land use and nearby water bodies and their currents. Climates can be classified according to the average and typical variables, most commonly temperature and precipitation. The most widely used classification scheme was the Köppen climate classification. The Thornthwaite system, in use since 1948, incorporates evapotranspiration along with temperature an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Flood
A flood is an overflow of water ( or rarely other fluids) that submerges land that is usually dry. In the sense of "flowing water", the word may also be applied to the inflow of the tide. Floods are an area of study of the discipline hydrology and are of significant concern in agriculture, civil engineering and public health. Human changes to the environment often increase the intensity and frequency of flooding, for example land use changes such as deforestation and removal of wetlands, changes in waterway course or flood controls such as with levees, and larger environmental issues such as climate change and sea level rise. In particular climate change's increased rainfall and extreme weather events increases the severity of other causes for flooding, resulting in more intense floods and increased flood risk. Flooding may occur as an overflow of water from water bodies, such as a river, lake, or ocean, in which the water overtops or breaks levees, resulting ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Flood Insurance
Flood insurance is the specific insurance coverage issued against property loss from flooding. To determine risk factors for specific properties, insurers will often refer to topographical maps that denote lowlands, floodplains and other areas that are susceptible to flooding. In the United States Nationwide, only 20 percent of American homes at risk for floods are covered by flood insurance. Most private insurers do not insure against the peril of flood due to the prevalence of adverse selection, which is the purchase of insurance by persons most affected by the specific peril of flood. In traditional insurance, insurers use the economic law of large numbers to charge a relatively small fee to large numbers of people in order to pay the claims of the small numbers of claimants who have suffered a loss. Some insurers provide privately written primary flood insurance for high-value residential properties, and for low-value and high value buildings, including through The Natural ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sea Level Rise
Globally, sea levels are rising due to human-caused climate change. Between 1901 and 2018, the globally averaged sea level rose by , or 1–2 mm per year on average.IPCC, 2019Summary for Policymakers InIPCC Special Report on the Ocean and Cryosphere in a Changing Climate .-O. Pörtner, D.C. Roberts, V. Masson-Delmotte, P. Zhai, M. Tignor, E. Poloczanska, K. Mintenbeck, A. Alegría, M. Nicolai, A. Okem, J. Petzold, B. Rama, N.M. Weyer (eds.) Cambridge University Press, Cambridge, UK and New York, NY, USA. https://doi.org/10.1017/9781009157964.001. This rate is accelerating, with sea levels now rising by 3.7 mm per year. Climate scientists expect further acceleration during the 21st century. Climate change heats (and therefore expands) the ocean and melts land-based ice sheets and glaciers. Between 1993 and 2018, the thermal expansion of water contributed 42% to sea level rise; melting of temperate glaciers, 21%; Greenland, 15%; and Antarctica, 8%. Over the next 2 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Flooded Building And Tree Trunk In The Muddy Water Of The Mekong In Si Phan Don, Laos, September 2019
A flood is an overflow of water ( or rarely other fluids) that submerges land that is usually dry. In the sense of "flowing water", the word may also be applied to the inflow of the tide. Floods are an area of study of the discipline hydrology and are of significant concern in agriculture, civil engineering and public health. Human changes to the environment often increase the intensity and frequency of flooding, for example land use changes such as deforestation and removal of wetlands, changes in waterway course or flood controls such as with levees, and larger environmental issues such as climate change and sea level rise. In particular climate change's increased rainfall and extreme weather events increases the severity of other causes for flooding, resulting in more intense floods and increased flood risk. Flooding may occur as an overflow of water from water bodies, such as a river, lake, or ocean, in which the water overtops or breaks levees, resulting in some of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Munich Climate Insurance Initiative
Munich ( ; german: München ; bar, Minga ) is the capital and most populous city of the States of Germany, German state of Bavaria. With a population of 1,558,395 inhabitants as of 31 July 2020, it is the List of cities in Germany by population, third-largest city in Germany, after Berlin and Hamburg, and thus the largest which does not constitute its own state, as well as the List of cities in the European Union by population within city limits, 11th-largest city in the European Union. The Munich Metropolitan Region, city's metropolitan region is home to 6 million people. Straddling the banks of the River Isar (a tributary of the Danube) north of the Northern Limestone Alps, Bavarian Alps, Munich is the seat of the Bavarian Regierungsbezirk, administrative region of Upper Bavaria, while being the population density, most densely populated municipality in Germany (4,500 people per km2). Munich is the second-largest city in the Bavarian dialects, Bavarian dialect area, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
COP23
The 2017 United Nations Climate Change Conference (COP23) was an international meeting of political leaders, non-state actors and activists to discuss environmental issues. It was held at UN Campus in Bonn, Germany, during 6–17 November 2017.Damian Carrington"The COP23 climate change summit in Bonn and why it matters " ''The Guardian'', 2017-11-05 (page visited on 2017-11-14). The conference incorporated the 23rd Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC), the thirteenth meeting of the parties for the Kyoto Protocol (CMP13), and the second session of the first meeting of the parties for the Paris Agreement (CMA1-2 or CMA1.2). The purpose of the conference was to discuss and implement plans about combating climate change, including the details of how the Paris Agreement will work after it enters into force in 2020. The COP was presided over by the Prime Minister of Fiji, Frank Bainimarama, marking the first time a small ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Climate Risk
Climate risk refers to risk assessments based on formal analysis of the consequences, likelihoods and responses to the impacts of climate change and how societal constraints shape adaptation options. Common approaches to risk assessment and risk management strategies based on natural hazards have been applied to climate change impacts although there are distinct differences. Based on a climate system that is no longer staying within a stationary range of extremes, climate change impacts are anticipated to increase for the coming decades despite mitigation efforts. Ongoing changes in the climate system complicates assessing risks. Applying current knowledge to understand climate risk is further complicated due to substantial differences in regional climate projections, expanding numbers of climate model results, and the need to select a useful set of future climate scenarios in their assessments. One of primary roles of the Intergovernmental Panel on Climate Change (IPCC), which w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Carbon Emission
Greenhouse gas emissions from human activities strengthen the greenhouse effect, contributing to climate change. Most is carbon dioxide from burning fossil fuels: coal, oil, and natural gas. The largest emitters include coal in China and large oil and gas companies, many state-owned by OPEC and Russia. Human-caused emissions have increased atmospheric carbon dioxide by about 50% over pre-industrial levels. The growing levels of emissions have varied, but it was consistent among all greenhouse gases (GHG). Emissions in the 2010s averaged 56 billion tons a year, higher than ever before. Electricity generation and transport are major emitters; the largest single source, according to the United States Environmental Protection Agency, is transportation, accounting for 27% of all USA greenhouse gas emissions. Deforestation and other changes in land use also emit carbon dioxide and methane. The largest source of anthropogenic methane emissions is agriculture, closely followed by ga ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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