In combining their expertise, MCII, ClimateWise, the Geneva Association, and UNEP-FI have formed the Global Insurance Industry Group. The group has recently launched its statement on "Adaptation to Climate Change in Developing Countries". The statement focuses on how governments and the insurance industry can work together in managing climate risks in developing countries and highlights the contributions to adaptation efforts by both the insurance industry, i.e. expertise in risk management, prioritizing adaptation measures, incentivizing loss reduction, developing new insurance products, raising awareness among the many stakeholders of the insurance industry, as well as governments.