Grants for Improved Disaster Risk Pricing Assessment

This Destination supports the implementation of international policy frameworks (e.g. the Sendai Framework for Disaster Risk Reduction, the Paris Agreement, Sustainable Development Goals), EU disaster risk management policies tackling natural and man-made threats (either accidental or intentional), European Green Deal priorities including the new EU Climate Adaptation Strategy COM(2021) 82 final., as well as the Security Union Strategy[[COM(2020) 605 final.]] and the Counter-Terrorism Agenda[[COM(2020) 795 final.]] .

Eligibility

In order to accomplish the objectives of this Destination, additional eligibility conditions have been defined with regard to the active involvement of relevant security practitioners or end-users.

Proposals involving earth observation are encouraged to primarily make use of Copernicus data, services, and technologies.

Proposals for topics under this Destination should set out a credible pathway to contributing to the following expected impact of the Horizon Europe Strategic Plan 2021-2024:

“Losses from natural, accidental, and man-made disasters are reduced through enhanced disaster risk reduction based on preventive actions, better societal preparedness and resilience, and improved disaster risk management in a systemic way.”

More specifically, proposals should contribute to the achievement of one or more of the following impacts:

• Enhanced understanding and improved knowledge and situational awareness of disaster-related risks by citizens, empowered to act, thus raising the resilience of European society;
• More efficient cross-sectoral, cross-disciplines, cross-border coordination of the disaster risk management cycle (from prevention, preparedness to mitigation, response, and recovery) from international to local levels.

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Benefits

Project results are expected to contribute to some of the following expected outcomes:

• Contribute to the public accessibility of fiscal data and information related to disaster risks, and available risk transfer mechanisms such as insurance in an easily available and understandable way.
• EU-wide or international standards or guidance on how to monetise and account intangible values from Climate Adaptation and Disaster Risk Reduction measures
• Innovative financial instruments and IT solutions to reduce transaction costs for disaster risk finance and insurance products (e.g. earth observation data, artificial intelligence, financial technologies)
• Research and testing of novel European, cross-border, national, and regional disaster risk financing frameworks. This needs to involve a wide range of stakeholders (e.g. disaster risk management, finance, communication) from the public and private sectors.
• Risk model development for future natural catastrophe events, development of European stress-testing scenarios including vulnerable hotspots and uninsurable risks.

Scope:

Natural disasters (weather and climate-related extremes and geological events) in the EU have cost on average EUR 17 billion per year over the past ten years. Around 35 % of the total losses from climate and extreme weather events are insured today in the EU, although the proportion of the insured losses ranges from 1 % in Romania and Lithuania to about 60 % in Belgium. In the near-term future, the European insurance industry and its regulators have warned that affordability and insurability are likely to become an increasing concern with climate change. Insurance, in combination with other risk transfer and financing mechanisms, is an important tool to achieve disaster risk reduction targets. Insurance plays an important role in financially supporting the recovery of individuals, organisations, businesses, and communities affected by natural disasters. Large disaster losses in recent years have led insurance companies to re-examine their approach to increase the extent of insurance coverage and compensation for loss in vulnerable areas. This includes increasing their investment in assessing and modeling risk, developing advice on risk prevention, and establishing new forms of coverage to support governments in managing the costs they face in post-disaster recovery. Questions remain about the limits of insurance in tackling fast-rising threats – not only how people at the highest risk and with lower incomes can afford it, but whether insurance models can cope with much more frequent and destructive. Rethinking insurance pay-outs, and giving homeowners clearer information on potential risks – using simple online tools, or providing data at the time of house purchases – may also be the way forward for more resilient communities.

Application process

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