Adapting to Climate Change: Assessing the World Bank Group ...

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APPENDIX IPROJECT EXAMPLESThe CCRIF manages risk with a layered risk structure. For 2009-10 aggregate thefacility had a maximum potential liability of roughly $600 million; the facility itselfretains risk for claims up to $20 million (paid out of reserves), and then transfershigher levels of risk to insurance and reinsurance markets, using the IBRD as anintermediary. The facility reinsures most of its risk externally, and is financially selfsustaining.The use of simulated rather than actual losses allows for rapid responseand lower cost than under traditional indemnity insurance. However, damagemodels that relied on wind speed rather than rainfall meant that significant basisrisk remained; the CCRIF made no payout following Hurricane Dean in 2007, as themain damage came from flooding rather than wind damage. CCRIF intends to offerexcess rainfall coverage in future.Based on IEG interviews and a CCRIF beneficiary assessment, member governmentsseem generally happy with the CCRIF. They find that the insurance is reasonablypriced, with good service and rapid payouts, and many countries would beinterested in seeing the CCRIF expanded to offer insurance cover for other hazards.While the CCRIF has been a successful instrument for managing disaster risk in theCaribbean, the opportunities for replication of the multi-country risk pool modelremain unclear. The CCRIF opportunity arose in part because of case-specificfactors; a set of disaster-prone countries with a similar but low correlation riskprofiles, the small size of these countries (which meant that transaction costs fromtraditional insurance would be significant), and the shared trust and priorexperience between member countries in working together on disaster riskmanagement. Discussions are in progress for a disaster risk pool for Pacific Islandnations and a drought risk facility for Africa.Appendix I5: Index-Based Insurance in India and MongoliaThough most index insurance pilots have not led to scaling up, two Bank-supportedindex insurance projects are operating at large scale.The Weather Based Crop Insurance Scheme in India is by far the largest in theworld; as of 2010-11, over 9 million farmers were enrolled, with annual revenues of$258 million, insuring $3.17 billion of assets (Clarke, Mahul, and others 2012). Thescheme draws its origins from a 2003 pilot in Andhra Pradesh, which receivedWorld Bank technical assistance. The WBCIS system relies heavily on publicsubsidies, with premium rates capped at 1.5-2 percent of insured value for wheatand other food crops, and over 2007-10 total payouts exceeded total premiums by 30percent. Participation by farmers is largely compulsory (it is tied to credit access),though some farmers participate voluntarily. So widespread adoption is133
APPENDIX IPROJECT EXAMPLESunsurprising. Basis risk remains significant; farmers who suffer a total crop loss willstill have a 1 in 3 chance of receiving no payment from the WBCIS (Clarke, Mahul,and others 2012).The ongoing Index-Based Livestock Insurance Project in Mongolia has been the mostsuccessful livestock index insurance to date. Implemented in 2006, the productinsures losses of livestock caused by severe winter weather, and provides payouts toherders based on the average losses of livestock in each district. The instrumentcontains both a base layer (for losses up to 30 percent) that is intended to becommercially viable, and a catastrophic layer (for losses exceeding 30 percent) that issubsidized by government. The product has performed relatively well in attractingcustomers; in 2010/11, 10.5 percent of herders in the target areas purchasedinsurance (covering on average 30 percent of the value of the herds of those whopurchased insurance), and premiums collected were roughly $330,000 across 7,000policies (Luxbacher and Goodland 2011). However, observed uptake may havebeen due in part been to three successive years of severe winters and high payouts(including the worst winter ever recorded in 2009/10), which have strained programfinances. Cumulative premiums up to 2010/11 have been $750,000 for the basiclayer while cumulative payouts for this layer have been $1.9 million. The long-termfinancial sustainability of the program thus remains in question.134
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Adapting to Climate Change:Assessin
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ContentsGLOSSARY ..................
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CONTENTSBoxesthe role of IFC ......
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AbbreviationsACCACVCCCCCCCCCTCDMCEI
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GLOSSARYClimate variability: Variat
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GLOSSARYSustainable land management
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AcknowledgmentsThis evaluation was
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STATEMENT OF THE EXTERNAL ADVISORY
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STATEMENT OF THE EXTERNAL ADVISORY
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OVERVIEWClimate adaptation comprise
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OVERVIEWfor others. Another approac
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OVERVIEWcoffee, may require infrast
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OVERVIEWscale pilot projects, asses
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Management ResponseIntroductionWorl
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MANAGEMENT RESPONSEare. The Bank wi
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MANAGEMENT RESPONSEweighting or pro
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ANNEX 1MANAGEMENT ACTION RECORD MAT
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ANNEX 1MANAGEMENT ACTION RECORD MAT
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1. Context and ApproachHighlights C
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CHAPTER 1CONTEXT AND APPROACHOften
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CHAPTER 1CONTEXT AND APPROACHbut wo
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CHAPTER 1CONTEXT AND APPROACHAntici
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CHAPTER 1CONTEXT AND APPROACHthe fu
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2. Climate Adaptation at the World
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CHAPTER 2ADAPTATION AT THE BANK GRO
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3. Dealing with Climate Variability
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CHAPTER 3CLIMATE VARIABILITY3.3 Cli
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CHAPTER 3CLIMATE VARIABILITYBox 3-1
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CHAPTER 3CLIMATE VARIABILITYRESEARC
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CHAPTER 3CLIMATE VARIABILITY1999 (L
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CHAPTER 3CLIMATE VARIABILITYBox 3-4
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CHAPTER 3CLIMATE VARIABILITY3.34 An
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CHAPTER 3CLIMATE VARIABILITYto incr
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CHAPTER 3CLIMATE VARIABILITYdisaste
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CHAPTER 3CLIMATE VARIABILITYTHE BAN
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CHAPTER 3CLIMATE VARIABILITY3.59 Li
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CHAPTER 3CLIMATE VARIABILITYfund di
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CHAPTER 3CLIMATE VARIABILITYfrom se
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CHAPTER 3CLIMATE VARIABILITY3.80 Lo
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CHAPTER 3CLIMATE VARIABILITYonly ha
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4. Anticipatory Adaptation to Clima
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CHAPTER 4ANTICIPATORY ADAPTATIONlev
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CHAPTER 4ANTICIPATORY ADAPTATIONTab
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CHAPTER 4ANTICIPATORY ADAPTATIONFor
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CHAPTER 4ANTICIPATORY ADAPTATIONTab
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CHAPTER 4ANTICIPATORY ADAPTATIONBox
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CHAPTER 4ANTICIPATORY ADAPTATIONANA
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CHAPTER 4ANTICIPATORY ADAPTATIONfut
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Integration of Climate Change Consi
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CHAPTER 4ANTICIPATORY ADAPTATIONare
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CHAPTER 4ANTICIPATORY ADAPTATIONcha
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Page 128 and 129: 5. Conclusions and RecommendationsC
Page 130 and 131: CHAPTER 5CONCLUSIONS AND RECOMMENDA
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Page 139 and 140: APPENDIX APIDCountryApprovalYearP04
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Page 143 and 144: APPENDIX APIDCountryApprovalYearP00
Page 145 and 146: Appendix BAdaptation-Related Indica
Page 147 and 148: APPENDIX B• Social Development St
Page 149 and 150: APPENDIX B• Subnational level app
Page 151 and 152: Appendix CResults IndicatorsTable C
Page 153 and 154: APPENDIX CRESULTS INDICATORSIndicat
Page 155 and 156: APPENDIX CRESULTS INDICATORSIndicat
Page 157 and 158: Appendix DDrought Mitigation Projec
Page 159 and 160: APPENDIX DDROUGHT PROJECTStook the
Page 161 and 162: APPENDIX EROADSroads to higher stan
Page 163 and 164: APPENDIX FANALYTIC WORK ON CLIMATE
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Page 167 and 168: Appendix HAdditional EvidenceH1. Lo
Page 169 and 170: APPENDIX HADDITIONAL EVIDENCEDrylan
Page 171 and 172: Appendix IProject ExamplesAppendix
Page 173 and 174: APPENDIX IPROJECT EXAMPLESplanted a
Page 175: APPENDIX IPROJECT EXAMPLESand that
Page 179 and 180: REFERENCESDoell, P., H. Hoffmann‐
Page 181 and 182: REFERENCESMcGray, H., A. Hammill, R
Page 183 and 184: REFERENCESUnited Nations Developmen
Page 186 and 187: ENDNOTESEndnotes1 Lobell, Schlenker
Page 188 and 189: ENDNOTES22 In Ethiopia, communities
Page 190 and 191: ENDNOTES39 This review draws upon a
Page 192 and 193: ENDNOTES61 Resource Guide on Gender
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