disaster risk financing

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Philippines gets $500m World Bank catastrophe contingent credit line

The Philippines has received more catastrophe protection with the help of the World Bank, as its government has signed up to another $500 million catastrophe contingent line-of-credit through a new Catastrophe-Deferred Drawdown Option arrangement, dubbed CAT-DDO 4. The Philippines has benefited from these novel catastrophe contingent credit arrangements before, having had read the full article →

Jamaica cat bond is largest World Bank issue relative to beneficiary GDP

Fitch Ratings has made an interesting observation related to the Jamaica’s first catastrophe bond, the $185 million IBRD CAR 130 transaction that came to market in July. It represents the largest World Bank facilitated cat bond, relative to the sponsor government's GDP. That's important as it shows a catastrophe bond that read the full article →

More people move into climate risk exposed US regions, than out

It's always been clear that the coastline is a popular place to live and the high-value homes that are increasingly built in some coastal regions ramp up insured exposure values in the face of storms and hurricanes. But it's not just on the coasts, as other parts of the United read the full article →

Climate change(s) irreversible over thousands of years, warns IPCC report

Climate change is running away from us, is the stark warning from the Intergovernmental Panel on Climate Change 's (IPCC) Report, which was published today. "Many of the changes observed in the climate are unprecedented in thousands, if not hundreds of thousands of years, and some of the changes already set read the full article →

Cat bond not a “handout”, Jamaica aims to renew by itself: Minister

The fact foreign donors paid for the premiums associated with Jamaica's first catastrophe bond does not mean it was a "handout" the country's Minister of Finance has explained. Jamaica’s first catastrophe bond, the recently placed IBRD CAR 130 transaction, was priced and saw the Caribbean island nation securing the upsized target read the full article →

California climate insurance (with parametrics, risk pools & even cat bonds)

The California Climate Insurance Working Group has issued a report detailing 40 state and local policy recommendations covering resilience building and risk transfer, with an over-arching theme that suggests innovative climate insurance and risk transfer is required, especially integrated solutions that consider communities alongside risk reduction. Within the recommendations parametric insurance read the full article →

Jamaica’s cat bond priced at upsized $185m, ILS funds take 66% of notes

Jamaica's first catastrophe bond, the IBRD CAR 130 transaction, has now been successfully priced and the Caribbean island nation has secured the upsized target of $185 million of coverage, with pricing closer to the upper-end of guidance. Dedicated insurance-linked securities (ILS) investment funds took the lions share of the cat bond read the full article →

Jamaica’s World Bank catastrophe bond could upsize to $185m

The first catastrophe bond for Jamaica, which as we were first to report ten days ago launched as a $175 million IBRD CAR 130 transaction with the support of the World Bank, is now said by our sources to have a chance of closing a little larger, at $185 million read the full article →

GC & MMC units team on climate risk transfer, including cat bonds

Reinsurance broker Guy Carpenter is teaming up with other global Marsh McLennan businesses for a joined-up approach on delivering a holistic range of climate risk focused services and advisory, part of which is risk transfer related and includes catastrophe bonds. The announcement sees the reinsurance division teaming up with MMC units read the full article →

Jamaica’s first cat bond launched at $175m by World Bank IBRD

The first catastrophe bond to benefit the Caribbean island nation of Jamaica has now been launched to investors, with the IBRD CAR 130 transaction, that is being issued via the World Bank, set to provide the Government with a $175 million or greater source of named tropical storm and hurricane read the full article →