COP20 (09/12/14) – Loster explains that micro insurance is insurance for the poor. Premiums are very low, as low as $1 a day, and allow people to rebuild homes and get back to business after climate change related disaster events. The Caribbean livelihood protection policy pays people $500 after a heavy storm, which is enough money for a fishermen or taxi driver to get back to business and support their families.

Loster believes that micro insurance is one of the many financial tools needed in climate change adaptation.