Deadline: January 20 2023
You want to create, expand, or enhance a climate risk insurance product and are looking for funding. Don’t miss the 8th Call for Proposals application window by sending your Concept Note required for the application of InsuResilience Solutions Fund (ISF) 2023
Climate risk insurance projects in different sectors such as infrastructure (property), finance, emergency relief, nature, agriculture etc. are highly welcome under the InsuResilience Solutions Fund (ISF) 2023 Call for Proposals.
The ISF provides grant-based co-funding of up to EUR 2.5m only to consortia of Project Partners consisting of public and/ or private organisations
which want to
- develop new climate risk insurance products, especially for governments or
- scale-up already existing products, e.g. into other regions or to other groups
in order to
- increase the resilience of poor and vulnerable people in developing countries to climate change
where at least one partner is
- representing the demand and needs of end-beneficiaries (e.g. national or regional government bodies, NGOs, local insurers)
- willing to act as a risk taker (e.g. reinsurance company)
- located in the target country and legally authorised to sign a potential Grant Agreement
which provide an own contribution
- matching the grant funding (in-kind and/or as financial contribution, including funds from their own resources and co-financing2)
Further parties, e.g. other product implementing partners such as risk modelling agencies, insurers, brokers, can additionally be involved.
- Grant-based co-funding of up to EUR 2.5 million
Target Countries and Groups
- Focus on poor and vulnerable households (< 15 USD PPP per capita per day) either directly (through micro-level insurance) or indirectly (through meso- or macro-level solutions).
- Countries in Asia and the Pacific, Africa and Latin America which are eligible to receive official development assistance (ODA) as defined by the OECD Development Assistance Committee and are vulnerable to extreme weather events.
- Nevertheless, countries that are official candidates for accession to the European Union or beneficiaries of the European Neighbourhood Instrument East are considered to be non-eligible for ISF funding. These include: Albania, Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Georgia, Kosovo, Moldova, Montenegro, North Macedonia, Serbia, Turkey and Ukraine.
Target group of the ISF are joint initiatives of:
- (local) public entities (e.g. national and regional government bodies or communities),
- private companies in the insurance sector, and
- NGOs, humanitarian organisations.
A two-step procedure is used to choose the proposals for climate risk insurance that will get co-funding from the InsuResilience Solutions Fund (ISF):
Phase I: Prequalification
- Applicants submit a Concept Note to the ISF during Phase I. ISF Management conducts an examination With relation to the Concept Notes’ adherence to the Minimum Criteria.
Phase II: Submission and Evaluation of Full Proposals.
- In Phase II, the ISF Management undertakes a comprehensive assessment of Full Proposals submitted by prequalified applicants.
Please be aware that the grant-based co-funding of up to EUR 2.5 million does not include your own contribution if you decide to apply. This leads to the following equation: ISF grant + personal contribution = total project expenditures.