- Taking an informed decision on a potential insurance product by commissioning targeted technical advice to clarify the risk financing needs.
- Developing a tailor-made insurance product that fits the needs of the local governments. The primary insurance product is placed by the city with a local primary insurance company, most likely through a public tender process. The project will be supporting local governments throughout this process.
- Supporting local governments in purchasing the insurance policy through premium subsidy for a limited time span (max. approx. 3 years).
- Establishing long-lasting relationships with financial institutions and banks to assist local governments after the insurance premium subsidy period.
- Providing local governments with technical advice through the UIIF to ensure that the insurance is embedded in a consistent and comprehensive natural hazard risk management framework that maximizes its impact.
- Supporting local governments in identifying the most cost-effective adaptation measures, e.g. through Economics of Climate Change Adaptation (ECA) studies, risk modeling, financial gap assessment as well as from capacity building and awareness-raising activities and events.
- Creating a regional risk pool.
