Four organizations, representing more than 100 insurers, have urged world leaders and governments to utilize insurance-linked products in order to protect developing countries 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 improved risk management and insurance strategies to reduce the vulnerability of developing nations to natural disasters. The insurance industry, including reinsurers who spread risk throughout the sector, has traditionally been a key method for mitigating the impact of hurricanes, floods, and other disasters. Insurers have also sought to transfer risks related to natural disasters to investors in the capital markets, such as through catastrophe bonds. For example, Swiss Re and the World Bank collaborated on a $290 million cat bond last year to provide coverage for earthquakes and hurricanes in a specific city. Vanessa Otto-Mentz, head of the strategy unit at Santam and a member of ClimateWise, warned at a news conference in London that if the developed world does not get involved, the risks faced by the developing world will also pose risks to them. Insurers like Munich Re and Allianz Insurance are calling on global governments to utilize the knowledge and expertise of the insurance industry to promote national risk management in developing countries, especially those most susceptible to the effects of climate change. They are also advocating for the creation of new insurance products to cover risks related to climate and weather events, such as human health, crop yields, and animal diseases. Walter Stahel, deputy secretary general at the Geneva Association, emphasized the potential to minimize human and economic suffering through loss prevention and risk transformations. He urged governments to invest in reliable risk data, establish public/private partnerships for catastrophe risk coverage, and promote micro insurance. He stated that the insurance industry has the necessary tools and knowledge, but it is crucial for government leaders to establish the framework and conditions for these tools to be effective. Munich Re, the world's biggest reinsurer, reported that over the past thirty years, global economic losses from natural catastrophes have averaged $90 billion per year, with 78 percent of these disasters being weather-related. Additionally, Munich Re noted that 85 percent of deaths related to natural catastrophes have occurred in developing countries. The four associations will advocate for world leaders and negotiators of the United Nations Framework Convention on Climate Change.