resilience

Mark Carney, the Governor of the Bank of England, discussed the role of insurance and reinsurance technology as an essential financial took to smooth the world’s transition to a 1.5 degree world and highlighted the role of insurance-linked securities (ILS) within that.

A newly launched Coalition for Climate Resilient Investment is set to bring together significant investment and risk industry expertise, with goals including to properly price climate risk, align investment flows with resilience initiatives and to introduce resilience bonds.

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).

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 to make money.

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.

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.

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.

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 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.

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.