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  Improving the design of climate insurance: combining empirical approaches and modelling

Will, M., Backes, A., Campenni, M., Cronk, L., Dressler, G., Gornott, C., Groeneveld, J., Habtemariam, L. T., Kraehnert, K., Kraus, M., Lenel, F., Osgood, D., Taye, M., Müller, B. (2022): Improving the design of climate insurance: combining empirical approaches and modelling. - Climate & Development, 14, 9, 804-813.
https://doi.org/10.1080/17565529.2021.2007837

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 Creators:
Will, Meike1, Author
Backes, Annika1, Author
Campenni, Marco1, Author
Cronk, Lee1, Author
Dressler, Gunnar1, Author
Gornott, Christoph2, Author              
Groeneveld, Jürgen1, Author
Habtemariam, Lemlem Teklegiorgis2, Author              
Kraehnert, Kati2, Author              
Kraus, Martin1, Author
Lenel, Friederike1, Author
Osgood, Daniel1, Author
Taye, Masresha1, Author
Müller, Birgit1, Author
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1External Organizations, ou_persistent22              
2Potsdam Institute for Climate Impact Research, ou_persistent13              

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 Abstract: Extreme weather conditions in the face of due to climate change often disproportionately affects the weakest members of society. Agricultural insurance programs that are specifically designed specifically for smallholders in developing countries are valuable tools that can help farmers to cope with the resulting risks. A broad range of methods including household surveys, experimental games, and agent-based models have been used to assess and improve the effectiveness of such climate insurance products. In addition Furthermore, process-based crop models have been used to derive suitable insurance indices. However, climate change raises specific socioeconomic andas well as environmental challenges that need to be considered when designing insurance schemes. We argue that, in light of these pressing challenges, some of the methodological approaches currently applied to study climate insurance reach their limits when applied independently. This has fundamental implications. On the one hand, not all undesired side effects of insurance can be detected and, on the other hand, insurance indices cannot be derived sufficiently well. We therefore advocate a sound combination of different methods, especially by linking empirical analyses and modelling, and underline the resulting potential with the help of stylized examples. Our study highlights how methodological synergies can make climate insurance products more effective in supporting the most vulnerable households, especially under changing climatic conditions.

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Language(s): eng - English
 Dates: 2021-11-052021-12-292022-12
 Publication Status: Finally published
 Pages: 11
 Publishing info: -
 Table of Contents: -
 Rev. Type: Peer
 Identifiers: MDB-ID: No data to archive
PIKDOMAIN: RD2 - Climate Resilience
Organisational keyword: RD2 - Climate Resilience
Working Group: Adaptation in Agricultural Systems
Organisational keyword: FutureLab - Inequality, Human Well-Being and Development
Research topic keyword: Adaptation
Research topic keyword: Climate Policy
Research topic keyword: Economics
Research topic keyword: Food & Agriculture
Research topic keyword: Inequality and Equity
Regional keyword: Global
DOI: 10.1080/17565529.2021.2007837
OATYPE: Hybrid Open Access
 Degree: -

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Title: Climate & Development
Source Genre: Journal, SCI, Scopus
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Pages: - Volume / Issue: 14 (9) Sequence Number: - Start / End Page: 804 - 813 Identifier: CoNE: https://publications.pik-potsdam.de/cone/journals/resource/climate-and-development
Publisher: Taylor & Francis