ADB examines disaster risk financing options for the Philippines

The Philippines has long been the focus of disaster risk financing and insurance discussions, given its exposure to typhoons, earthquakes, fires, rainfall, floods and drought, and now the Asian Development Bank (ADB) is examining options for disaster insurance facilities.The World Bank has been discussing catastrophe bonds in the Philippines for read the full article →

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 →

Philippines gets $500m World Bank catastrophe contingent credit line

The Philippines has secured a new catastrophe contingent line of credit, to support its management of the risks posed by natural disasters, with a $500 million Second Disaster Risk Management Development Policy Loan with a Catastrophe-Deferred Drawdown Option (CAT-DDO 2).The World Bank said that the catastrophe contingent CAT-DDO 2, which read the full article →

Typhoon Melor (Nona) hits Philippines, wind, flood & surge threat

Typhoon Melor (known as Nona locally) is bearing down on a Category 3 or 4 landfall in the central Philippines in the coming hours. The Philippines is in the firing line for yet another typhoon, in this year of high activity in the Pacific tropical storm and cyclone regions.Typhoon Melor, read the full article →

Super typhoon Koppu – severe wind, rain, flood threat for Philippines

Once again the Philippines faces a powerful and dangerous storm as typhoon Koppu, also know as Lando, approaches a landfall in the coming hours. The typhoon is a Category 4 storm, with winds of 130mph+ and the forecast threatens extreme rainfall and flooding in its path.Update 17th Oct, 15:30 BST, 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 →

Philippines & World Bank nearing $100m – $300m cat bond: Purisima

The Philippines is in the final stages of the lengthy process of working towards issuing its first catastrophe bond. Working with the World Bank, the Philippines will target an issuance of between $100m and $300m in size, according to Cesar Purisima, Finance Secretary.The Philippines, as one of the most catastrophe read the full article →

Philippines catastrophe bond issuance still on the table

The government of the Philippines is once again contemplating issuance of a catastrophe bond as it looks to boost its ability to finance the nations recovery after impactful catastrophe events, such as typhoons or earthquakes.The Philippines has been in discussions with organisations such as the World Bank and United Nations read the full article →

Philippines in catastrophe bond discussions with World Bank (again)

The government of the Philippines is in discussion with the World Bank about the use of catastrophe bonds, to help it transfer typhoon and earthquake risks to the capital markets, while securing a source of post-disaster financing, once again.Catastrophe bonds for the Philippines have been a topic of discussion since read the full article →

Dangerous super typhoon Hagupit (Ruby) nears the Philippines

Super typhoon Hagupit, or typhoon Ruby as the storm is known in the Philippines, is bearing down on the Philippines with wind gusts estimated as high as over 200mph and a path that looks ever more likely to take it directly over the country.Latest position of super typhoon Hagupit (Ruby):Latest read the full article →