In this this new research project we will conduct a rigorous impact evaluation of a parametric agricultural insurance in Vietnam that can protect small farmers against climate risks, such as drought, floods, and storms. We will analyze (i) whether insurance brings the expected benefits to smallholder farm households and (ii) how to stimulate demand for insurance. The project is funded by the German Institute for Development Evaluation (DEval) on behalf of the German Federal Ministry for Economic Cooperation and Development.