disaster risk

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Parametric disaster insurance facility for ASEAN to get Japanese funding

Japan is set to back and help fund the launch of the Southeast Asia Disaster Risk Insurance Facility, a parametric disaster insurance pool that will be established to serve ASEAN nations including Laos, Myanmar and Cambodia to begin with.The Southeast Asia Disaster Risk Insurance Facility (SEADRIF) is set for an read the full article →

Catastrophe insurance schemes can help disaster aid/recovery: Report

In the wake of a natural disaster event in an emerging, vulnerable region of the globe disaster aid, while important, often takes time to reach those in need and in some cases is far from enough to meet the needs of those affected.This underlines the importance of expanding catastrophe insurance read the full article →

AIR launches new initiative to focus on disaster risk resilience

AIR Worldwide has launched a new practice group to be focused on disaster resilience and disaster risk reduction initiatives around the world, which will ultimately help insurance, reinsurance and capital or ILS markets better provide risk financing capacity.Catastrophe risk modelling and analytics firm AIR Worldwide announced this new practice group read the full article →

Asia-Pacific disaster losses hit half a trillion dollars in 10 years: UN

During the last decade more than 40% of global disasters have occurred in the Asia-Pacific region, affecting over 1.4 billion individuals and causing economic damages of beyond half a trillion dollars, truly underling the need to narrow the insurance protection gap.The Asia-Pacific region is home to some of the world’s read the full article →

Vulnerable 20 nations to establish climate risk pooling facility

The Vulnerable 20 (V20), a group of the most vulnerable nations to weather extremes and a changing climate, is aiming to establish a risk pooling mechanism for climate related risks within the next five years, it was announced at a recent meeting.The V20 held its inaugural meeting at the IMF read the full article →

UN report highlights climate & disaster risk transfer inflection point

The insurance, reinsurance and capital markets risk transfer sector has reached an inflection point in terms of tools, techniques and capital to address climate and disaster risks, now demonstrating the potential to scale-up and expand in scope, according to the United Nations.The use of insurance and reinsurance capacity, alongside capital read the full article →

Public sector disaster risk financing & re/insurance is vital: Swiss Re

The commitment and capabilities of public and private sector entities is essential to closing the world’s ballooning protection gap, underlining the necessity of adequate insurance, reinsurance and alternative catastrophe risk financing, says Swiss Re.During the last 10 years, according to global reinsurance firm Swiss Re, insurance has only covered around read the full article →

Re/insurance & ILS can turn protection gap failure into market success

The protection gap - underinsurance in emerging and developing economies and the gap between economic and insurance losses - has been a hot topic for the world's leading reinsurance companies and brokers at this year's Monte Carlo Rendez-vous.It's the opportunity that is on every reinsurance CEO's lips, as they seek read the full article →

ART & ILS can support human rights against catastrophe risks

International insurance and reinsurance markets, including alternative risk transfer instruments and insurance-linked securities (ILS), have a vital role to play in ensuring basic human rights for people against the world’s catastrophe risks, according to a recent study.The study, titled ‘Insurance regulation for sustainable development – Protecting human rights against climate read the full article →

Re/insurance at heart of disaster & climate risk discussions

Insurance and reinsurance remained at the heart of recent discussions on disaster and climate risk reduction and resilience efforts at the United Nations, with regulatory reform highlighted as required to make risk transfer more available.In the last few years the activity surrounding climate and disaster risk has accelerated and the read the full article →