Climate has always presented a challenge to farmers, herders, fishermen and others whose livelihoods are closely linked to their environment, particularly those in poor areas of the world. A type of insurance called index insurance now offers significant opportunities as a climate-risk management tool in developing countries, if certain challenges are overcome, according to IRI's latest Climate and Society publication, launched at the 2009 Global Humanitarian Forum. The IRI published the report in partnership with the United Nations Development Programme, the International Fund for Agricultural Development, Oxfam America, Swiss Re, the US National Oceanic and Atmospheric Administration and the World Food Programme.

Watch the audio slideshow above to learn more about index insurance and why development agencies, governments and researchers are excited about it as a way to help reduce disaster risk and to aid development.

Index insurance for development and disaster management from IRI Video Pages on Vimeo.