Re/insurance to help governments reduce future disaster losses – IDF
The Insurance Development Forum, a group formed of insurance and reinsurance industry representatives, alongside the World Bank and United Nations, held its first meeting last week laying out priorities as it seeks to help governments reduce future disaster losses and narrow the protection gap, reports Artemis.
According to the report, the IDF will seek to better incorporate techniques from insurance and reinsurance into government disaster risk reduction and resilience frameworks, and to create more sustainable and resilient global insurance market to help the world better face the growing threats from natural disaster and climate risk. The Forum established four priority work streams: i) Understanding Risk, ii) Risk and Insurance Regulation, Legislation and Policy, iii) Risk Sharing, Transfer and Response, and iv) Risk and Resilience.