Four organizations representing more than 100 insurers are urging world leaders and governments to utilize insurance-linked products to protect developing nations from the effects of climate change. The Geneva Association, ClimateWise, the Munich Climate Insurance Initiative (MCII), and the United Nations Environment Programme Finance Initiative (UNEP FI) are advocating for the use of better risk management and insurance approaches to decrease the susceptibility of developing countries to natural disasters. The insurance industry, including reinsurers, has traditionally been a key method of mitigating risks such as hurricanes and floods. Additionally, insurers have sought to transfer risks related to natural disasters to investors in capital markets through instruments like catastrophe bonds. For example, Swiss Re collaborated with the World Bank to issue a $290 million cat bond last year to provide coverage against earthquakes and hurricanes in a specific city. Vanessa Otto-Mentz, head of the strategy unit at Santam and a member of ClimateWise, warned that if action is not taken, the risks faced by developing countries will spread to developed nations. She emphasized the need for global governments to work with the insurance industry to improve national risk management in vulnerable developing countries. The group also advocated for the development of new insurance products to cover risks related to climate change impacts on human health, crop yields, and animal diseases. Walter Stahel of the Geneva Association highlighted the opportunity to prevent human and economic suffering through loss prevention and risk transformations, urging governments to invest in reliable risk data and public/private partnerships for catastrophe risk and micro insurance. He stated that the insurance industry has the necessary tools and knowledge, but now requires government leaders to establish the framework and conditions for these tools to be effective. Munich Re, the world's largest reinsurer, reported that over the past thirty years, global economic losses from natural catastrophes have averaged $90 billion annually, with 78 percent of these disasters being weather-related. Additionally, Munich Re stated that 85 percent of deaths from natural disasters during this period occurred in developing countries. The four associations will work together to advocate for world leaders and United Nations Framework Convention on Climate Change negotiators.