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Philippines renews push for mandatory catastrophe insurance

The Philippines Insurance Commission has renewed its efforts to push through a bill that would make property catastrophe insurance mandatory in the country, after lobbying failed to get the idea ratified before the change of President in the country.The proposal would see a significant increase in catastrophe insurance premiums within read the full article →

Chile looks to catastrophe bonds for disaster insurance

Chile is the latest sovereign government that is reportedly looking to a catastrophe bond issuance, providing a responsive source of disaster risk insurance or financing, as part of a goal to become more responsible about disaster and weather risk management.Speaking at the IMF and World Bank annual meetings held in read the full article →

World Bank confirms Philippines catastrophe bond discussions

The World Bank has confirmed that it is working on a multi-level approach to catastrophe insurance and disaster risk transfer for the Philippines, with catastrophe bonds one of the financial instruments options on the table.According to World Bank vice president and special envoy for climate change Rachel Kyte, the Philippines read the full article →

Will 2011 see another MultiCat catastrophe bond?

The World Banks MultiCat catastrophe bond program was launched back in September 2009 with the MultiCat Mexico 2009 Ltd. catastrophe bond which provides Mexico with three years of cover against earthquakes and hurricanes which impact their FONDEN disaster fund.The deal was hailed as a first as it allowed a still read the full article →