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London Centre for Global Disaster Protection announced at G20 by PM May

UK Prime Minister Theresa May has announced a new London Centre for Global Disaster Protection, that will be established to harness expertise in the insurance and reinsurance market with the goal of helping to increase the use of rapid paying risk transfer protection and insurance against perils such as drought read the full article →

World Bank, Swiss Re backed Kenya livestock index insurance pays out

An index-based livestock insurance program in Kenya, which was launched with the backing of the World Bank and with reinsurance from Swiss Re, has been triggered and will pay out $2 million to farmers hit by drought. The index insurance product utilises satellite technology to monitor and measure the state of read the full article →

World Bank & Africa Re to cap weather index-insurance loss ratios

The World Bank's Global Index Insurance Facility (GIIF) and African Reinsurance Corporation (Africa Re) have teamed up to provide a facility that will help to cap insurers loss ratios on weather index-insurance schemes in Africa. Index-insurance, or index based insurance, typically involves protecting policyholders from weather and climate impacts, using indices read the full article →

Swiss Re backs MiCRO catastrophe index business interruption cover

The Microinsurance Catastrophe Risk Organisation (MiCRO), a Barbados based reinsurance company that leverages the capital efficiency of the international reinsurance market alongside donor capital, has launched a novel index-linked business interruption policy. MiCRO launched in 2011 with the backing of Swiss Re, among others, to bring efficient insurance risk transfer products read the full article →

Satellite data supports the development of risk transfer solutions

Satellite data plays an important role in the establishment and success of risk transfer triggers and index insurance schemes, and as technology has advanced the use of satellites has expanded and become more efficient, supporting the growth of innovative agriculture insurance and reinsurance solutions. The agricultural sector of many emerging, poorer read the full article →

Lloyd’s, Guy Carpenter, Met Office to establish weather index for Asia

Lloyd’s of London, the UK Met Office, and reinsurance broker Guy Carpenter are working together to establish the concept of an agriculture weather index that can be used for insurance in Southeast Asia, with a report on the initiative set to be launched in London later this year. Following a commitment read the full article →

World Bank backs index insurance scheme to assist Kenyan farmers

Farmers in Kenya are set to benefit from the launch of a new innovative, index insurance scheme which utilises advanced technology and satellite data to assist agricultural workers in the face of flooding and drought conditions. Collaboration between public and private sector entities, with the assistance of the World Bank has read the full article →

Blue Marble Microinsurance aims to expand access to insurance

The Microinsurance Consortium and Venture Incubator (MVI) has announced the group will now operate under the name Blue Marble Microinsurance (Blue Marble), a venture launched earlier this year with a goal to increase access to insurance for the world’s most vulnerable people. The establishment of the consortium was revealed in January read the full article →

World Bank, UK Met Office collaborate on weather services for DRR

The World Bank and the UK Met Office are teaming up to collaborate on work to support the development of hydro-meteorological services for emerging and developing countries in the world, with goal's including increasing resilience and reducing disaster risk. Better weather, hydrological and climate monitoring systems are essential to countries that read the full article →

New Guy Carpenter unit to develop parametric risk transfer products

Global reinsurance broker Guy Carpenter has launched a new division named CAT Risk Studio (CRS), to support its Model Suitability Analysis (MSA)® initiative and work with capital markets team GC Securities to develop parametric catastrophe risk transfer solutions. "We launched CAT Risk Studio in order to expand the capabilities of Guy read the full article →