disaster risk financing


World Bank looks at new cat bond risks, including cyber, famine, migration

The World Bank continues to explore ways it can expand the range of risks and perils that its member countries can hedge using risk transfer structures including catastrophe bonds.To-date, the World Bank has helped its member countries to hedge more than $4.25 billion of natural catastrophe risk, as well as read the full article →

ADB provides catastrophe triggered financing for Pacific islands

The Asian Development Bank (ADB) has approved $24 million of catastrophe triggered contingent disaster financing for Pacific islands the Federated States of Micronesia (FSM), the Marshall Islands, Solomon Islands, and Tonga.As a second phase of the Pacific Disaster Resilience Program, financing is designed to help strengthen and boost disaster resilience read the full article →

World Bank links catastrophe & pandemic risk finance for the Maldives

The World Bank has delivered the first of a new combined catastrophe and pandemic contingent risk financing solution to the Maldives, leveraging existing structures to create something responsive and that works similar to insurance for the archipelagic nation.The Maldives is highly exposed to natural hazards and climate variability, and is read the full article →

Asian Development Bank launches contingent disaster risk financing solution

The Asian Development Bank (ADB) has launched a new contingent natural disaster risk financing solution which it has named contingent disaster financing (CDF), as it seeks to deliver rapid paying risk capacity for its members after they experience significant natural catastrophe events.Contingent disaster financing (CDF) is a mechanism by which read the full article →

Asian governments encouraged to use more risk transfer by ADB

Disaster risks and costs are on the rise in Asia, a region where under-insurance is still the norm and spending by government's on contingent sources of disaster risk financing relatively scarce, leading the Asian Development Bank (ADB) to call for more to be done.Among the issues cited as requiring more read the full article →

United Nations initiatives look to parametric & index insurance for Pacific islands

A group of United Nations backed initiatives are looking to expand the use of parametric or index insurance and reinsurance in the Pacific region, with a study expected to identify new use-cases and possibilities to drive uptake.The Pacific islands are not strangers to parametric insurance, having a World Bank supported read the full article →

World Bank to expand parametric risk transfer for Pacific Islands

In supporting the Pacific Island nations on their road to resilience, the World Bank aims to expand the availability of parametric disaster insurance protection, partly through the use of private capital, while expanding the range of parametric insurance products available in the region as well.Recently, the World Bank, alongside German read the full article →

Philippines gets $500m for typhoon Mangkhut from World Bank CAT DDO 2

The Philippines is to benefit from a payout of almost $500 million to assist with its recovery from recent typhoon Mangkhut, as the countries catastrophe contingent line of credit provided by the World Bank has been triggered.The Philippines entered into a $500 million arrangement with the World Bank to support read the full article →

World Bank extends parametric insurance grant to Marshall Islands

The World Bank has approved a $2.5 million grant that will pay the Republic of the Marshall Islands premiums for parametric disaster insurance coverage under the Pacific Catastrophe Risk Assessment and Finance Initiative (PCRAFI).The grant is designed to support that Marshall Islands goal of strengthening its resilience to natural disasters, read the full article →

Romania seeks World Bank Catastrophe Deferred Drawdown Option (Cat DDO)

A project is now underway that may see the country of Romania as the next in line to benefit from a Catastrophe Deferred Drawdown Option (Cat DDO) instrument from the World Bank, as the government of the country seeks to enhance its disaster risk financing support.The Catastrophe Deferred Drawdown Option read the full article →