The development of sustainable insurance solutions requires thorough risk assessment, modelling and layering. Agricultural and climate risks are mainly of a systemic nature, i.e. they affect a large geographic area or large parts of the population simulta neously. If the insured risk is not adequately spread, one catastrophic event can threaten the viability of the whole scheme. To lower covariate risks, the portfolio thus needs to be diversified in terms of crops, type of risks, and different geographical regions.

Sustainable insurance solutions for climate risk requires a joint effort of both the public and the private sector: the partners need to cooperate and commit to facilitating a development process. Private insurance companies design appropriate insurance products, establish administrative processes and carry the risk. They invest financial and human resources and commit themselves to the agricultural and climate risk insurance markets. Government support that goes beyond creating an enabling regulatory environment can be critical to the sustainability of such systems.

Partners for Action (P4A) research identified three conditions for flood insurance success in Canada: that Canadians are aware of their risk; that decision makers consider flood risk in planning and policy decisions; and that mechanisms exist for risk transfer following personal risk reduction. These conditions have been supported by all levels of government (federal, provincial, municipal, and indigenous), business, and the non-governmental sector, particularly support towards raising awareness amongst homeowners.

The core objective of the project is to offer invaluable insights on how insurers, local and national governments, academia and international organizations can collaborate to reduce climate and disaster risk and promote risk-informed development planning.

The core objective of the project is to provide SMEs and municipalities with climate and disaster risk management knowledge and tools to improve risk awareness, assessment, prevention and reduction of risks linked to extreme climate events as well as support the implementation of adaptation plans.

The core objective of the project to engage diverse stakeholder groups to share knowledge, address information needs and drive action to advance flood resiliency in Canada in the face of changing climate and extreme weather.

The core objective of the project is to work collaboratively with governments to effect change in public policy and increase investment aimed at building safer and more resilient communities as well as to actively improve the capacity of people and businesses to better withstand future natural disasters.