New parametric reef insurance & resilience product to be developed

A new initiative to develop a parametric insurance product to protect and enhance the resilience of coral reefs and the communities that rely on them is being developed by Willis Towers Watson through its Global Ecosystem Resilience Facility (GERF) and the Mesoamerican Reef Fund (MAR Fund).An agreement has been reached read the full article →

Miami Beach considers parametric triggers to protect tourism revenues

The City of Miami Beach in Florida is looking into parametric triggers for insurance solutions to protect its revenue from taxes paid by the tourism industry, in recognition that weather, hurricanes and other crises such as the Zika virus outbreak have all had a significant impact on the City's ability read the full article →

Swiss Re & Nature Conservancy partner for parametric coral reef insurance

Global reinsurance giant Swiss Re has partnered with The Nature Conservancy (TNC), a leading global nature conservation organisation, to create a parametric insurance policy that can be used to both insure and enhance the resilience of coral reefs and the communities that rely on them.The parametric insurance product, which is read the full article →

Willis Towers Watson launches global insurance facility for resilience

Insurance and reinsurance brokerage Willis Towers Watson (WTW) has today announced the launch of the Global Ecosystem Resilience Facility, an insurance facility designed to help strengthen the resilience of ecosystems and their communities, through the use of efficient risk transfer where catastrophe bonds may feature.The Global Ecosystem Resilience Facility (GERF) read the full article →

Grenier joins AIR from Liberty Mutual to become global resilience lead

Dr. Roger Grenier has joined catastrophe risk modelling specialist AIR Worldwide as a senior vice president and to lead the firms global resilience practice globally, after leaving his most recent role at Liberty Mutual as Director of Catastrophe Research & Development.AIR said that Grenier would lead its efforts to develop read the full article →

Resilience (cat) bonds can help public sector access private risk capital

In a new report, RE:bound has further explored the potential benefits of resilience bonds, underlining the opportunity for the public sector to access private capital, to transfer disaster risks away from while supporting the development of resilient infrastructure projects.The catastrophe bond-style transaction concept has been developed by consultancy RE:bound working read the full article →

Nature Conservancy pilots insurance fund for coastal resilience

The Nature Conservancy (TNC), a leading global nature conservation organisation, is working on a pilot project that will design and test an insurance mechanism for coastal resilience which will leverage private capital structured in a fund format and with underlying parametric insurance triggers.It's a project that has been in the 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 →

Science, innovation, and risk transfer key to disaster resilience: Experts

A continued and advanced use of science to enhance risk modelling, innovation to drive efficiency, and the experience and skills of the global risk transfer landscape are required to support and improve global disaster resilience efforts, according to speakers at a recent Start Talks event.Improving global disaster resilience efforts, coupled read the full article →