Call for Grant Applications –
ISF 11th Call for Proposals to Support for Climate Risk Insurance products
Application Deadline:
13 November 2024
About Organisation
Natural disasters pose significant threats to sustainable development, particularly in developing nations, where extreme weather events such as floods, storms, and droughts undermine progress and increase vulnerability. Climate change is projected to intensify the frequency and severity of such events, exacerbating these challenges. The InsuResilience Solutions Fund (ISF) addresses these risks by supporting innovative, needs-based, and financially sustainable climate risk insurance products in developing and emerging countries. ISF’s mission is to increase the resilience of vulnerable populations by providing fast and reliable financial assistance following extreme weather events. As part of the InsuResilience Global Partnership, the ISF contributes to international climate risk insurance initiatives and the broader climate adaptation agenda. It operates under the framework of the Tripartite Agreement and coordinates its efforts through the Project Coordination Unit (PCU), ensuring collaboration between public and private sectors.
About the Grant
The ISF grant program addresses the growing economic and financial losses caused by natural disasters, which are projected to rise with climate change. Developing and emerging countries are disproportionately affected by these events, and their traditional risk-sharing mechanisms are insufficient to cope with the magnitude of such catastrophes. Insurance can play a critical role in complementing risk management strategies and providing rapid compensation to affected populations. ISF’s unique approach aims to leverage private sector expertise, fostering sustainable climate risk insurance products that reduce reliance on public emergency aid. The grant supports climate risk analysis and co-funds innovative insurance products that protect vulnerable communities. Through its Global Risk Modelling Alliance (GRMA) initiative, ISF helps countries build climate risk modeling capabilities and close data gaps, empowering them to manage climate risks more proactively.
Who can Apply?
The ISF targets joint initiatives from public entities (local governments, national agencies), private insurance companies, and NGOs or humanitarian organizations. Eligible applicants must be legally registered in an Official Development Assistance (ODA) recipient country, as defined by the OECD Development Assistance Committee. Additionally, under the GRMA program, countries must hold ODA status and request climate risk modeling support for hazards like wind/storm, flood, drought, or heatwaves. A formal Letter of Intent (LoI) is required, committing the country to appoint a focal point and provide access to relevant public data. The ISF seeks projects with high potential to fulfill its criteria, especially those that contribute to climate risk adaptation through innovative insurance solutions. Eligible institutions can receive financial support of up to EUR 15,000 to develop Concept Notes for the grant application process.
How to Apply?
If you are planning to develop or scale a Climate Risk Insurance product, you can apply for ISF’s Call for Proposals. Submit your application templates for Concept Note development.
Application Deadline
The deadline for submitting the Concept Note development support application is 13 November 2024, 23:59 CET.
Last Date To Apply
For more information, please visit the grant website here.
