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Discussion paper:

This paper examines insurance mechanisms as a means to address loss and damage in developing countries particularly vulnerable to climate change by addressing two fundamental questions: whether climate insurance programs should be part of an international adaptation strategy, and if so, how?

The discussion suggests that there is a promising and legitimate role for insurance mechanisms in an adaptation regime. This paper draw this conclusion in full recognition that insurance is not appropriate in all contexts, and that it must be viewed as only part of a comprehensive risk-management program.