Integrated Climate Risk Management (ICRM) | Disaster Risk Management | Climate Change Adaptation

▶️ Meet Mia. Her home is known for its beautiful nature and fresh products. However, life there is not always easy as her home is prone to hurricanes, flooding and other natural hazards. These natural hazards can greatly damage people livelihoods but it does not have to be like this. For more information please visit: https://indexinsuranceforum.org/climate-insurance

▶️ Integrated Climate Risk Management (ICRM) | To better protect Mia against possible natural hazards it is important to develop strategies to better prepare for, manage, and cope with these events. An Integrated Climate Risk Management (ICRM) approach was developed to help governments, business, and individuals like Mia better manage these ever-increasing climate risks and natural hazards.

The ICRM approach has five phases: Prevention, Retention & Transfer, Preparedness, Response and Recovery. The integrated climate risk management is a constant process of planning, implementing, evaluating, and adapting strategies and measures relating the analysis, reduction, and transfer of disaster risk in times of global warming. When an ICRM is applied and communities know what should be done to prepare for a natural hazard, the consequences will be much less severe. An Integrated Climate Risk Management (ICRM) approach along financial instruments, like insurance can help Mia and her community to be more resilient to natural hazards and prevent them to turn into disasters.

▶️ Find out more about risk transfer solutions at the climate insurance database: https://indexinsuranceforum.org/climate-insurance

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