Insurance & risk transfer

The process of formally or informally shifting the financial consequences of particular risks from one party to another, whereby a household, community, enterprise or State authority will obtain resources from the other party after a disaster occurs, in exchange for ongoing or compensatory social or financial benefits provided to that other party.

This theme covers aspects of disaster risk financing, catastrophe bonds, financial resilience, and micro-insurance.

Latest Insurance & risk transfer additions in the Knowledge Base

Update

12 October 2011

Australia celebrates international day for disaster reduction 2011

AusAID is working with the United Nations International Strategy for Disaster Risk Reduction (UNISDR) and the World Bank’s Global Facility for Disaster Reduction and Recovery (GFDRR) to help governments build resilience to disasters...

Australian Agency for International Development

Update

4 October 2011

Accidents involving dangerous substances: more inspections, better information

The EU has had legislation in place to prevent and control major accidents in the chemical industry since 1976, following an accident at a pesticides and herbicides plant in Seveso, Italy. The Environment Committee is voting on revisions to the Seveso II rules...

European Parliament

Update

5 October 2011

France: EDF se protège et investit dans la recherche

Deux mesures ont été prises par EDF pour se protéger contre les risques naturels. Tout d'abord, le groups a émis 150 millions d'euros d'obligations catastrophe pour contrer le risque de tempête, et a ensuite augmenté de 10 % son budget de recherche pour anticiper les risques naturels...

Les Echos

by Flickr user Erik K Veland, Creative Commons BY-NC 2.0, http://www.flickr.com/photos/erikveland/5351140681/

Update

3 October 2011

Australia: Flood-risk review creates waves

According to the Sydney Morning Herald, insurance companies face an overhaul in how they handle flood risk, after an independent review considered sweeping changes designed to lift insurance cover against natural disasters...

Sydney Morning Herald, Fairfax Digital Network

Update

29 September 2011

Guatemala: El aseguramiento en riesgos, la única vía efectiva

Ante el cada vez mayor impacto económico de los desastres naturales provocados por el cambio climático en Guatemala, expertos en finanzas de la Mesa Nacional de Diálogo para la Reducción de Riesgos a los Desastres (MNDRRD), sugieren el aseguramiento en riesgos como la única vía efectiva...

Adital

Update

27 September 2011

USA: Government, private insurers’ roles need to be redefined for disaster management - Lloyd’s

A report by global insurance major Lloyd’s urges for greater cooperation between government and private insurers for disaster mitigation and recovery cautioning there are other 'unintended impacts' of government-run insurance programs...

Wikipeers, Vpromise Technologies

Documents and publications

27 September 2011

A dynamic model of extreme risk coverage: resilience and efficiency in the global reinsurance market

Policy research working paper 5807:

This paper presents a dynamic model of the reinsurance market for catastrophe risks. It (i) briefly describes the main characteristics of the reinsurance market for natural catastrophe risks; (ii) presents the

by Flickr user archer10 (Dennis) / Dennis Jarvis, Creative Commons BY-SA 2.0, http://www.flickr.com/photos/archer10/2215022263/

Update

23 September 2011

India: Swiss Re suggests how govt can cut disaster burden

Swiss Re has approached the Indian government to propose a host of risk transfer measures that could be taken in advance to deal with the economic consequences of natural disasters in order to reduce the economic burden of natural disasters which are increasing in frequency...

Times of India, the