Dhaka, Dec. 22 -- The interim government has moved to bring farmers' crops under insurance coverage to tackle growing climate risks in Bangladesh, according to the Insurance Development Regulatory Authority (IDRA).

A draft law is ready and work has started on the "Climate Risk Insurance" guidelines, IDRA chairman M Aslam Alam said at a workshop at Economic Reporters Forum (ERF) office in Dhaka's Paltan on Monday.

Each year, people lose homes and livelihoods due to climate change, making robust social protection and a sustainable insurance system "essential", he added.

He explained that conventional insurance depends on actual losses, whereas climate-related risks involve future uncertainties. Parametric or weather-based insurance is ne...