Implementation of article 4, paragraphs 8 and 9, of the Convention. Progress on the implementation of Article 4, paragraph 8. Report on the UNFCCC workshops on insurance. Note by the Chair of the Subsidiary Body for Implementation.
Two workshops were held in Bonn, Germany in May 2003; one on insurance and risk assessment in the context of climate change and extreme weather events, and the other on insurance-related actions to address the specific needs and concerns of developing country Parties arising from the adverse effects of climate change and from the impact of the implementation of response measures. Discussions covered general issues relating to the role of private insurers in managing natural disasters and climate change risk, and national and international efforts to manage and insure against such risks, as well as specific issues relating to existing risk management schemes, risk assessment methodologies and uncertainties, and risk-transfer instruments in the context of the adverse effects of climate change and of the impact of the implementation of response measures. Participants also identified possible areas for future consideration