Several risk insurance initiatives have been implemented at grassroots level over the years for reducing the vulnerability of communities to natural disasters. Despite these efforts, the penetration of risk insurance in the developing Asia-Pacific is poor compared to many developed countries in the region due to several barriers that this sector is facing. Keeping this in view, this project aimed to assess the benefits accrued through community-level risk insurance experiences in the region, evaluate barriers limiting its penetration and identify interventions for greater risk insurance penetration leading to climate change adaptation and disaster risk reduction.