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KNOWLEDGE FOR POLICY

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Publication | 2021

Does Climate Insurance Work? Evidence from WFP-Supported Microinsurance Programmes - 2021

WFP has extensive experience integrating climate risk insurance solutions as an element of financial and social protection. This factsheet provides a summary of the evidence on how WFP-supported microinsurance programmes protect vulnerable populations from climatic shocks.

Smallholder farmers across the world are highly vulnerable to climate-related risks, such as droughts, floods and storms, with very limited access to the risk financing tools and services that can provide protection from the resulting financial losses. This locks many famers into a vicious cycle of poverty and food insecurity as recovery from increasingly recurrent and cascading losses becomes close to impossible. WFP aims to help smallholders to effectively manage these risks and reduce vulnerabilities so they can transition to sustainable food and nutrition security. This factsheet provides a summary of the evidence on how WFP-supported microinsurance programmes protect vulnerable populations from climatic shocks and stimulate investments in more resilient livelihoods.