Weather extremes have been responsible for widespread economic damage at global scale in the last decades. Agriculture alone absorbed 26% of the overall impact caused by natural hazards in low- and middle-income countries and even in high-income countries yield losses due to extreme weather are relevant. Vulnerability curves are traditionally used to quickly estimate the damage due to extreme events. This study maps the articles published from January 2000 to May 2022 implementing crop vulnerability curves to weather-related extreme events and climate change. Fifty-two articles have been identified through the use of Scopus, Web of Science, Google Scholar and the references of the selected papers. The selected papers have been analysed to determine for which extreme events vulnerability curves have been proposed, which crops have been studied, which explanatory variables have been used to create the curves, which functions are used to develop vulnerability curves and the number of parameters on which the proposed functions rely. Comparisons among the vulnerability curves for the various extremes are proposed, as well as indications of the main drawback of the developed vulnerability curves. Finally, areas where further research is needed are proposed together with recommendations on which elements should be included in vulnerability curve development.

Weather index insurance is an innovative tool in risk transfer for disasters induced by natural hazards. This paper proposes a methodology that uses machine learning algorithms for the identification of extreme flood and drought events aimed at reducing the basis risk connected to this kind of insurance mechanism. The model types selected for this study were the neural network and the support vector machine, vastly adopted for classification problems, which were built exploring thousands of possible configurations based on the combination of different model parameters. The models were developed and tested in the Dominican Republic context, based on data from multiple sources covering a time period between 2000 and 2019. Using rainfall and soil moisture data, the machine learning algorithms provided a strong improvement when compared to logistic regression models, used as a baseline for both hazards. Furthermore, increasing the amount of information provided during the training of the models proved to be beneficial to the performances, increasing their classification accuracy and confirming the ability of these algorithms to exploit big data and their potential for application within index insurance products.

Since drought is a multifaceted phenomenon, more than one variable should be considered for a proper understanding of such an extreme event in order to implement adequate risk mitigation strategies such as weather or agricultural indices insurance programmes or disaster risk financing tools. This paper proposes a new composite drought index that accounts for both meteorological and agricultural drought conditions by combining in a probabilistic framework two consolidated drought indices: the standardized precipitation index (SPI) and the vegetation health index (VHI). The new index, called the probabilistic precipitation vegetation index (PPVI), is scalable, transferable all over the globe and can be updated in near real time. Furthermore, it is a remote-sensing product, since precipitation is retrieved from satellite data and the VHI is a remote-sensing index. In addition, a set of rules to objectively identify drought events is developed and implemented. Both the index and the set of rules have been applied to Haiti. The performance of the PPVI has been evaluated by means of a receiver operating characteristic curve and compared to that of the SPI and VHI considered separately. The new index outperformed SPI and VHI both in drought identification and characterization, thus revealing potential for an effective implementation within drought early-warning systems.