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Insurance and 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. Risk insurance is a key disaster risk management activity.

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

Latest Insurance & risk transfer additions in the Knowledge Base

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Update
CCRIF pays $4.67m to Honduras under parametric excess rainfall insurance

The CCRIF SPC has made a payout of US $4.67 million to Honduras after its parametric excess rainfall insurance policy was triggered following a severe event in November, taking parametric payouts made for the current policy year to almost US $118 million.

Artemis
Coffee beans drying in the sun in Vietnam
Update
De-Risking coffee from climate disasters: Upscaling coffee climate protection insurance for Vietnamese smallholder coffee producers

To enhance the resilience of vulnerable smallholder coffee farmers against climate change, the InsuResilience Solutions Fund launches an index-based insurance product covering 100 Robusta Vietnamese coffee farmers against extreme rainfall and drought.

InsuResilience Global Partnership
A flooded street after hurricane Irma hit Florida, USA.
Update
Hurricanes, severe thunderstorms and floods drive insured losses above USD 100 billion for 5th consecutive year, says Swiss Re Institute

Swiss Re estimated insured losses from natural catastrophes on track to exceed USD 135 billion in 2024. The US made up at least two thirds of 2024's global insured losses of more than USD 135 billion following a series of hurricanes and thunderstorms.

Swiss Reinsurance Company (Swiss Re)
Cover and source: npj natural hazards
Documents and publications
The role of insurers in driving post-hurricane risk reduction investments

Investments in cost-effective risk reduction are needed to protect households and communities from growing losses. This study finds that insurers play a key role in this process by providing both information and financial incentives.

npj Natural Hazards (Nature)
Underwater sea turtle swimming in the sea by a coral reef.
Update
ISF extends support for the Mesoamerican reef’s climate risk insurance initiative

To enhance the MAR region's ability to respond to natural disasters, the InsuResilience Solutions Fund (ISF) co-funded the successful implementation of a parametric insurance solution. ISF is now extending its support with further premium support.

InsuResilience Solutions Fund
Cover
Documents and publications
Fiscal policy’s role in economic resilience to climate shocks

This paper explores how to mitigate the effects of such climate shocks on developing economies, placing a particular focus on the role fiscal policy in creating and strengthening an economy’s resilience.

World Bank, the
Hurricane Beryl as seen from space from the International Space Station
Update
Hurricane Beryl: Record parametric payouts underline the evolution of CCRIF’s role in the Caribbean

This first blog reviews the record payouts from the Caribbean Catastrophe Risk Insurance Facility (CCRIF), which highlights the uptake of CCRIF insurance policies throughout the Caribbean, as well as how its applications and products have evolved.

Centre for Disaster Protection
View over the banana market in Uganda, men are carrying bananas on their bicycle.
Update
Enhancing agricultural resilience in Uganda with premium support from ISF

The InsuResilience Solutions Fund co-funded the development and implementation of an index-based insurance solution. Following the successful development and launch of the insurance mechanism, ISF is now extending its support through premium subsidies.

InsuResilience Solutions Fund
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