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This report analyzes how public development banks (PDBs)—including national, regional, and multilateral institutions—can overcome structural and market barriers to expand climate risk insurance in emerging markets and developing economies (EMDEs). It emphasizes the role of PDBs as intermediaries that can co-develop insurance products, bundle coverage with loans, and provide technical assistance to strengthen local insurance markets and enhance economic resilience against physical climate hazards.

This guide by the Africa Policy Research Institute outlines a strategic framework to close the adaptation finance gap, particularly in the Global South. It proposes moving from fragmented, project-based funding to 'Country Platforms for Climate Action'—nationally led governance frameworks that coordinate policy and de-risk investments. The document provides a practical 8-Move Playbook for policymakers to transform climate adaptation from a perceived cost into a scalable asset class by layering finance and linking payments to verified resilience outcomes.

This report by the Climate Policy Initiative examines the climate finance gap for Least Developed Countries (LDCs), highlighting the inadequacy of debt-based financial mechanisms and proposing the use of highly concessional, grant-based capital and innovative risk-management tools to build resilience in the most vulnerable nations.

This policy brief by the Africa Policy Research Institute examines the Global Shield (GS) initiative and the broader climate insurance landscape in Africa. The authors argue that while insurance can provide rapid disaster response, it is an insufficient tool for addressing the diverse, slow-onset impacts of climate change and often fails to provide equitable protection due to high premiums, technical complexities, and the risk of 'basis risk' where payouts are not triggered despite actual losses.

This report by Krutham, commissioned by the African Climate Foundation, evaluates the role of climate risk insurance in Kenya. It analyzes the country's disaster risk financing strategies, the current state of the insurance and reinsurance markets, and the barriers preventing the insurance sector from contributing more effectively to climate adaptation and resilience.

This policy brief analyzes two public rural insurance programs in Brazil: the Agricultural Activity Guarantee Program (PROAGRO) and the Rural Insurance Premium Subsidy Program (PSR). The authors find that PROAGRO's design, where the government bears the risk while financial institutions operate the program, creates severe information asymmetries and moral hazard, leading to higher claim rates and increasing costs for the National Treasury. In contrast, the PSR, where private insurers bear the risk, shows greater efficiency and growth, though it struggles to reach small producers. The report recommends migrating resources from PROAGRO to the PSR, improving the training of claims adjusters, and adopting parametric insurance to reduce fraud and monitoring costs.

This research paper by Andreas Spiegel of Swiss Re argues for a balanced climate adaptation strategy that combines cost-effective risk prevention measures with risk transfer mechanisms, such as insurance. Using data from the Economics of Climate Adaptation (ECA) working group, the author demonstrates that a significant portion of climate-related losses can be averted through preventative action, while residual risks should be managed via public-private partnerships and innovative financial instruments to protect vulnerable economies, particularly in developing nations.

This fact sheet describes risk pooling mechanisms that aggregate risks across countries or portfolios to diversify exposure and secure rapid liquidity after disasters. It details the application of these pools in disaster risk management, agriculture, and urban resilience, highlighting the role of parametric instruments and catastrophe bonds in protecting sovereign balance sheets.