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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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Hurricane Beryl as seen from space from the International Space Station
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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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Hurricane Milton: Further destruction for Florida and implications for the insurance industry

Losses from Milton could fully deplete the 2024 natural catastrophe budgets of US property/casualty insurers. The way in which Milton affected Florida has highlighted discussions regarding multi-peril impacts and business interruption coverage.

Risk Frontiers Holdings Pty Ltd
Update
Government of Panama receives US$26.7 million following excess rainfall event

The Government of Panama received US$26.7 million from CCRIF SPC within 14 days of a rainfall event that affected that country during October 31 to November 4, 2024.

Caribbean Catastrophe Risk Insurance Facility, the
Update
Americans face an insurability crisis as climate change worsens disasters – a look at how insurance companies set rates and coverage

Home insurance rates are rising in the United States, not only in Florida, which saw tens of billions of dollars in losses from hurricanes Helene and Milton, but across the country.

Conversation Media Group, the
Update
REPAIRing from shocks and building resilience: transforming Disaster Risk Finance in Southern Africa

The Regional Emergency Preparedness and Access to Inclusive Recovery Program (REPAIR) is the culmination of over a decade of hands-on experience and deep commitment to disaster risk finance (DRF) in Southern Africa.

Global Shield Financing Facility
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Documents and publications
Closing the Gap: The emerging global agenda of transition plans and the need for insurance-specific guidance

The report articulates the insurance industry’s triple role as risk managers, risk carriers and investors in supporting a just transition to a resilient net-zero economy

UNEP Finance Initiative
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The ARC Group makes US$13,3 million climate insurance payouts to the Government of the Republic of the Zambia

The African Risk Capacity (ARC) Group has made a climate risk insurance payout to the Government of the Republic of Zambia amounting to nine million nine hundred seventy-nine thousand one hundred forty US dollars (US$9,979,140).

African Risk Capacity
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