For a number of years, Munich Re, the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) and the umbrella organisation of Philippine cooperatives – CLIMBS – have together been successfully realising the following project in the Philippines: Based on a detailed analysis, Munich Re and GIZ developed an innovative weather-index-based microinsurance policy, enabling the cooperatives to limit their loan defaults and meet their social commitments in the event of a catastrophe.