The December 2015 floods in Chennai revealed poor insurance coverage among micro, small and medium enterprises (MSMEs). While there was significant demand for insurance products in the aftermath of the floods, in most cases, the insurance that was held by the MSMEs poorly covered their losses and did little to shorten recovery times. Insured firms received settlements that were far below what they had claimed, i.e. there was a huge mismatch between what firms expected to receive under their policies and the amount insurance providers approved.
Blogs Label: Takeaways
Considering the myriad complex and interconnected issues modern Indian cities are currently facing, how can we improve life in urban spaces and ensure we are prepared for an increasingly uncertain future? Read more in this article!
Climate change impacts exacerbate this already precarious balance. Floods, rising temperatures, droughts, water scarcity - all these events adversely affect urban areas. The peri-urban space, therefore, becomes more valuable as it can provide a buffering capacity to the cities and also strengthen their resilience capacities.
Here is 7 impacts of the efforts to build climate change resilience in Indonesia.
An important lesson learned from this COP was this: what is considered to be a technical issue, sometimes, especially under this new regime, is often heavily laden with political context.