On 8-9 March 2022, two of the MIND STEP partners took part in the CISAR (Climate Insurance Solutions for Agricultural Risks) Symposium. Among the attendees, there were members of the public sector, insurance industry specialists, agriculture technology and service companies, the farming community and key members of scientific and research institutions.
The event, which was held entirely online this time, takes places annually and its mission is to Understand, Monitor & Manage the impact of Climate Change on Agricultural Production. Since 2019 CISAR has been organised by Genillard & CO to raise awareness and to enable a fruitful exchange on agricultural insurance solutions and its challenges in a changing climate.
This year, the MIND STEP partner from the Wageningen University & Research attended the Breakout Session 3, titled Climate Change Risk Modelling in Agriculture. This session explored what models exist and where, and how forward looking they are. It explored the barriers and solutions to translating research from academia into usable metrics for the industry, and what more is needed to build future preparedness. Uncertainties in the science were discussed, also how insurers can navigate this uncertainty and what steps they can take to build a roadmap for accessing the analytics and what data they need.
Another MIND STEP partner, Università Cattolica del Sacro Cuore, took part in the Breakout Session 4, centred on the European Union Green Deal and its impact on crop insurance. The key questions focused on the increase or decrease of the demand for insurance when switching to more sustainable (and organic) agricultural practices, do subsidies targeted to more sustainable agricultural practices become a substitute for insurance? Can we think about new insurance products targeted to damages from pests and diseases? And What is the potential role of income insurance vs. traditional crop insurance?
To learn more about what was covered in the event, check out the full programme here. The conclusions of the Symposium can be checked here.