Index insurance and climate risk management: addressing social equity

dc.creatorFisher, E.
dc.creatorHellin, J.J.
dc.creatorGreatrex, H.
dc.creatorJensen, N.
dc.date2018-10-25T17:46:43Z
dc.date2018-10-25T17:46:43Z
dc.date2019
dc.date.accessioned2023-07-17T20:03:05Z
dc.date.available2023-07-17T20:03:05Z
dc.identifier1467-7679
dc.identifierhttps://hdl.handle.net/10883/19656
dc.identifier10.1111/dpr.12387
dc.identifier.urihttps://repositorioslatinoamericanos.uchile.cl/handle/2250/7511539
dc.descriptionFair distribution of benefits from index insurance matters. Lack of attention to social equity can reinforce inequalities and undermine the potential index insurance holds as a tool for climate risk management that is also pro‐poor. The aims of this article are to: (a) examine social equity concerns raised by index insurance in the context of climate risk management, (b) consider how greater attention can be paid to social equity in index insurance initiatives, and (c) reflect on the policy challenges raised by taking social equity into account as a mechanism for climate risk reduction. The article draws on learning from the CGIAR's Research Program on Climate Change, Agriculture and Food Security (CCAFS) and presents the cases of the Index Based Livelihoods Insurance (IBLI) and Agriculture and Climate Risk Enterprise Ltd. (ACRE) in East Africa. It proposes a framework for unpacking social equity related to equitable access, procedures, representation and distribution within index insurance schemes. The framework facilitates identification of opportunities for building outcomes that are more equitable, with greater potential for inclusion and fairer distribution of benefits related to index insurance. The article argues that systematically addressing social equity raises hard policy choices for index insurance initiatives without straightforward solutions. Attention to how benefits and burdens of index insurance are distributed, suggests the unpalatable truth for development policy that the poorest members of rural society can be excluded. Nevertheless, a focus on social equity—facilitated by the framework—opens up opportunities to ensure index insurance is linked to more socially just climate risk management. At the very least, it may prevent index insurance from generating greater inequality. Taking social equity into account, thus, shifts the focus from agricultural systems in transition per se to systems with potential to incorporate societal transformation through distributive justice.
dc.description581-602
dc.formatPDF
dc.languageEnglish
dc.publisherWiley
dc.rightsCIMMYT manages Intellectual Assets as International Public Goods. The user is free to download, print, store and share this work. In case you want to translate or create any other derivative work and share or distribute such translation/derivative work, please contact CIMMYT-Knowledge-Center@cgiar.org indicating the work you want to use and the kind of use you intend; CIMMYT will contact you with the suitable license for that purpose.
dc.rightsOpen Access
dc.source5
dc.source37
dc.sourceDevelopment Policy Review
dc.subjectAGRICULTURAL SCIENCES AND BIOTECHNOLOGY
dc.subjectClimate Risk Management
dc.subjectIndex Insurance
dc.subjectInequality
dc.subjectSocial Equity
dc.subjectSOCIAL CLASSES
dc.subjectAGRICULTURE
dc.subjectCLIMATE CHANGE
dc.subjectFOOD SECURITY
dc.subjectCLIMATE-SMART AGRICULTURE
dc.titleIndex insurance and climate risk management: addressing social equity
dc.typeArticle
dc.typePublished Version
dc.coverageEAST AFRICA
dc.coverageGermany


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