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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.

Latest Insurance & risk transfer additions in the Knowledge Base

Man walking barefoot in a flooded street in Wilsele, Vlaams-Brabant, Belgium (2021)
Update

Europe in the spotlight as global economic losses from catastrophes reach USD 280 billion in 2023

In what was the hottest year on record, Swiss Re’s latest report reveals that catastrophes resulted in global economic losses of USD 280 billion in 2023. Of these, USD 108 billion (40%) were insured, above the previous 10-year average of USD 89 billion.
Swiss Reinsurance Company (Swiss Re)
Update

Latest landscape study underscores urgency to close the microinsurance gap

By tracking the uptake of inclusive insurance products and services based on data from 2022, the report sheds light on emerging trends aimed at closing the protection gap for vulnerable populations worldwide.
Microinsurance Network
Update

Climate change-driven insurance crisis threatens new US states

After major providers quit California, Florida, and Louisiana, insurers are starting to pull back in other U.S. states, leaving homeowners struggling to find affordable cover for the risk of being hit by floods, wildfires or hurricanes.
Context
Cover
Documents and publications

Addressing compounded crises in Belize: How a flexible approach cushioned vulnerable communities against shocks

The government of Belize, with support from the World Bank and the Global Facility for Disaster Reduction and Recovery (GFDRR), addressed the urgent needs of vulnerable households and small farmers that were exacerbated by the COVID-19 pandemic.
Update

Beyond the report: From diagnostic to action for Angola’s financial resilience

The diagnostic is expected to improve risk informed decision-making and enable the Government of Angola to develop a comprehensive strategy for long term financial planning to manage climate and disaster risk.
World Bank, the
Cover
Documents and publications

Scaling up anticipatory actions for food security: Anticipatory action year in focus 2023

This report provides an overview of WFP's progress in scaling up its Anticipatory Action (AA) operations, from covering 3.2 million people in 28 countries in 2022 to 4.1 million people in 36 countries in 2023.
Update

Enhanced financial services for improved climate resilience: Some insights from the economic theory

The global protection gap related to climate shocks and disasters keeps growing. Improving access to financial services for resilience has become a policy question among development partners and developing countries.
World Bank, the
Rice fields on the Philippean islands
Update

Transforming agricultural insurance in the Philippines to help farmers cope with disasters: Three essential reform areas

Agricultural insurance can be an essential tool for Filipino farmers to manage climate shocks effectively. It can safeguard their livelihoods, protect them from falling into poverty traps, and enhance their productivity and innovation.
World Bank, the

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