Milliman's Michael McCord and UNCDF's Abhisheik Dhawan discuss the escalating risks of climate events, and the steps beyond stop-gap damage control that vulnerable countries will need to address. After a natural disaster, low-income and small island nations lack the capacity for the government to do much more than clean up the damage, while the frequency and impact of these incidents will continue to increase. Proactive actions that focus on adaptation and resilience plans are often cost prohibitive.
We discuss the need for more comprehensive approaches and insurance protection in response to climate change.