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.

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.

Swiss Re has collaborated with Veolia and The Rockefeller Foundation, revealing a new scheme designed to improve the resilience of cities and their infrastructure in the face of natural catastrophes or weather disasters. A venture that also has the potential to originate new risk for the reinsurance giant.

The RE:bound program, a partnership between re:focus partners, risk modeller RMS, reinsurance firm Swiss Re and The Rockefeller Foundation, has released a new framework that leverages the catastrophe bond structure for the financing of resilient infrastructure projects.

As part of a new environmental policy at the investment bank, Goldman Sachs will focus on developing new models and use-cases for catastrophe bonds, aiming to help clients mitigate climate risk impacts as well as for financing resilience.

The City of New Orleans has launched Resilient New Orleans, a strategic roadmap for the City of New Orleans to build urban resilience. One of the initiatives being undertaken is an assessment of “advanced insurance coverage” including parametric catastrophe insurance solutions.

A new initiative called RE.bound has been launched which will leverage catastrophe bond technology to design and structure new risk transfer solutions that provide a mechanism for resilient infrastructure project financing.