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<p>In December 2015, every G7 nation set out how they will meet a collective target
to reach an additional 400 million people with risk insurance by 2020. The UK has
led the way, making excellent progress in delivering on its pledges of support for
Climate Risk Insurance in the past year including funding for African Risk Capacity
(ARC) and Pacific Catastrophe Risk Assessment and Financing Initiative (PCRAFI). UK
Ministers have been invited to participate in side events at COP to highlight progress
with the G7’s InsuResilience climate risk insurance initiative and on ARC.</p><p>Currently,
just 5% of losses from natural disasters in low-income countries are covered by insurance
(against around 40% in developed countries), leaving millions with nothing to rebuild
their lives after disaster strikes. UK initiatives give countries and people the tools
they need to get themselves back on their feet, which is firmly in our national interest.</p>
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