Financial mechanisms formulated to reduce vulnerability to disasters by employing structured instruments such as insurance policies and catastrophe bonds which spread risks in exchange for a premium.
27 Aug 2014, Swiss Re
According to preliminary estimates, total economic losses from natural catastrophes and man-made disasters reached USD 44 billion in the first half of 2014. The global insurance industry covered USD 21 billion of these losses, down from USD 25 billion in H1 2013 and lower than the average first-half year loss of the previous 10 years...
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