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SOlutions TEsting for Regions through Insurance for climate Adaptation

Project description

Improving insurance options for climate adaptation in Europe

Europe must enhance its insurance coverage for climate adaptation to bolster resilience and preparedness in the face of the inevitable consequences of climate change. The EU-funded SOTERIA project is dedicated to improving insurance options for climate change adaptation across Europe. The project’s objectives encompass identifying best practices, testing insurance products and encouraging proactive prevention measures. Moreover, SOTERIA is establishing communities of practice aimed at developing affordable and accessible insurance schemes for all. This initiative involves a network consisting of three pilots and five satellites, each addressing various geographical areas and specific needs. These solutions will transition from the research phase to demonstration and testing, with at least three cases advancing to the pre-commercial procurement stage.

Objective

The SOTERIA project aims to advance innovative insurance solutions for climate change adaptation in different European regions and communities. To do so, SOTERIA will work through three main tracks forming the core of our approach: i) documenting best practice in relation to data, new insurance and robust enabling frameworks; ii) testing of some of these solutions; and iii) the creation of communities of practice for regions and insurance as legacy. We aim to help reducing the protection gap by documenting best practice and the testing of insurance products and services that reward proactive prevention measures while seeking to increase coverage through co-designed solutions. We will also consider the enabling framework that analyses the role of public sector modernisation and how to develop affordable insurance schemes that leave no one behind, through our Communities of Practice engaged in Climate Resilience society-insurance dialogues. SOTERIA will take these solutions from the levels of research to demonstration and testing with some at the level of pre-commercial procurement in at least three cases thanks to a network of three pilots and 5 satellites that span different geographical areas (and needs). The project legacy a set of best practice materials as well as a Community of Practice to support other regions interested to design and/or adopt innovative insurance solutions. SOTERIA will contribute to the wider goal of the Mission Adaptation to increase Europe’s resilience and preparedness to face unavoidable consequences of climate change by filling the gaps on insurance coverage for climate adaptation.

Keywords

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Programme(s)

Multi-annual funding programmes that define the EU’s priorities for research and innovation.

Topic(s)

Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.

Funding Scheme

Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.

HORIZON-RIA - HORIZON Research and Innovation Actions

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Call for proposal

Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.

(opens in new window) HORIZON-MISS-2022-CLIMA-01

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Coordinator

ASOCIACION BC3 BASQUE CENTRE FOR CLIMATE CHANGE - KLIMA ALDAKETA IKERGAI
Net EU contribution

Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.

€ 499 875,00
Address
EDIFICIO 1 PLANTA 1 PARQUE CIENTIFICO DE UPV/EHU BARRIO SARRIENA
48940 Leioa
Spain

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Region
Noreste País Vasco Bizkaia
Activity type
Research Organisations
Links
Total cost

The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.

€ 499 875,00

Participants (15)

Partners (17)

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