climate insurance

Climate insurance is a financial tool that helps individuals, businesses, and communities protect themselves against the financial risks caused by climate-related events like storms, floods, droughts, or extreme heat. By purchasing this coverage, they receive payouts if these events damage property, crops, or infrastructure, allowing them to recover more quickly. It functions similar to traditional insurance but is specifically tailored to address the growing impacts of climate change. This helps promote resilience and stability, enabling affected parties to better manage and adapt to a changing climate.