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Swiss Re: Cyclone Pam triggers disaster risk payout to Vanuatu

Source(s): Swiss Reinsurance Company (Swiss Re)
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Three years ago, taking its first steps to increase financial disaster resilience, the Vanuatu government participated in the regional disaster insurance scheme, Pacific Disaster Risk Financing and Insurance Programme - The Pacific Catastrophe Risk Insurance Pilot, reports Swiss Re.

It is now clear that Cyclone Pam triggered the criteria outlined in the parametric insurance scheme, and Vanuatu has received USD 1.9 million to support relief and recovery.

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Last checked: 16 July 2021

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Hazards Cyclone, Hurricane and Typhoon
Themes Insurance and risk transfer Financing DRR Small Island Developing States (SIDS)
Country and region Switzerland Vanuatu

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