MCII was founded in April 2005. Its objective is to develop insurance solutions for the ever-growing losses from weather-related extreme events. Initial efforts will be concentrated on developing countries — poor people must be given the chance to protect themselves against the consequences of climate change. The basic idea of the project is to create a balance between the emitters of greenhouse gases and the developing countries that are increasingly confronted with the consequences of climate change.

The initiative brings together insurers, climate experts, economists and independent organisations. Representatives of MCII include: 

• Germanwatch,
• International Institute for Applied Systems Analysis (IIASA),
• Munich Re and the Munich Re Foundation,
• Potsdam Institute for Climate Impact Research (PIK),
• The Energy and Resources Institute (TERI),
• Tyndall Centre for Climate Change Research,
• United Nations Framework Convention on Climate Change (UNFCCC),
• World Bank,
• World Meteorological Organization (WMO) and other renowned institutions, companies and experts.

Source:  Munich Re Website