The Start Network has signalled its intention to support and join the efforts of the InsuResilience Global Partnership (IGP).
InsuResilience is an initiative that seeks to increase climate risk insurance coverage for vulnerable people. It aims to protect people against the adverse impacts of extreme weather events and it is striding to facilitate access to direct or indirect insurance for an additional 400 million poor and vulnerable people in developing countries by 2020.
The Start Network believes that the central objective of the partnership - enabling more timely and reliable humanitarian response through risk financing solutions - is in line with the expressed vision of the Start Network of a more effective humanitarian aid system.
The Start Network has been designing risk financing instruments for and with civil society responders for several years, and welcome a partnership that can bring global efforts together in this area and would like to bring our expertise and learning to contribute to the development of this partnership.
The concept of InsuResilience will continue being steered in a direction that is consistent with the concerns of civil society, to ensure that the partnership can achieve the greatest positive impact for the poorest threatened by disasters. These include establishing clear principles for the partnership as well as systems for monitoring and evaluation of impact.
The IGP aims to strengthen the resilience of developing countries and protect the poor and vulnerable from the impacts of disasters.
One of the risk financing mechanisms launched by Start Network is the Drought Financing Facility (DFF). The DFF aims to tackle agriculture droughts using scientific modelling of drought risks, scenario-based contingency planning and ground monitoring along with pre-positioned financing.
Click here to read the full report on the Drought Financing Facility.