This paper aims to provide inspiration for how risk transfer tools such as insurance can facilitate approaches to address loss and damage associated with the impacts of climate change including slow-onset events. In particular it aims to show how insurance can be used in conjunction with a wide set of climate risk management tools to bolster societal resilience. The paper offers an overview of slow-onset climatic processes, provides a description on the current innovative tools and approaches to help reduce loss and damage associated with slow onset events provides case studies, and discussed some of the gaps and challenges related to implementation and enabling environment needed to manage climate risks in developing countries.
Acknowledgement: This paper benefited from the significant input of Dr. Koko Warner (MCII and UN University), Mr. Sönke Kreft (Germanwatch), Mr. Michael Zissener (MCII) and Ms Kristina Yuzva (MCII) who provided valuable comments, and ideas. The author wishes to thank them for their support and contributions that made the work possible.