ORIGINAL PUBLICATION HERE The Philippines, the Asian Development Bank and private market entities are working to develop a parametric disaster insurance pooling facility for Philippine cities to buy protection from, backed by reinsurance and capital markets funding. The Philippine City Disaster Insurance Pool (PCDIP) is being designed by a collaboration between the Philippine Department of […]

ORIGINAL PUBLICATION HERE The recently renewed Philippines parametric natural disaster insurance cover was completed at $390 million in size, around double the prior year, and the World Bank has confirmed that work is underway to issue a catastrophe bond to extend disaster protection for the country. We covered this renewal back in December, when we […]

ORIGINAL PUBLICATION HERE Reinsurance firm Swiss Re continues to expand its parametric risk transfer activities, this time with the launch and backing of the first county-level natural catastrophe index insurance product in China. Swiss Re is backing and reinsuring a county-level index insurance cover for Mao County in Sichuan province, Financial News reported, the first […]

ORIGINAL PUBLICATION HERE The CCRIF SPC (formerly named the Caribbean Catastrophe Risk Insurance Facility) has expanded its parametric risk pool to include Panama, as the Central American country joins the provider of parametric sovereign disaster risk transfer products and signs up for excess rainfall protection. The CCRIF is a multi-country risk pool, providing parametric disaster […]

ORIGINAL PUBLICATION HERE Commercial risk transfer and corporate insurance solutions provider Swiss Re Corporate Solutions has launched a new parametric product designed to protect European companies that are exposed to high or low water levels. A division of the global reinsurance firm Swiss Re, Swiss Re Corporate Solutions increasingly offers tailored parametric insurance products to […]

ОРИГИНАЛЬНАЯ ПУБЛИКАЦИЯ ЗДЕСЬ Москва. 28 декабря. INTERFAX.RU – Метеорологи предполагают, что 2019 год может стать для планеты самым теплым за всю историю инструментальных наблюдений, заявил научный руководитель Гидрометцентра России Роман Вильфанд. “По климатическим моделям, другим статистическим исследованиям следующий год может быть самым – в целом по глобусу – самым теплым за всю историю метеонаблюдений”, – […]

ORIGINAL PUBLICATION HERE Through partnership and innovative financing, ARC and AfDB are tackling one of the biggest challenges in closing the protection gap in Africa: premium financing. In January 2017, the ARC and AfDB partnered to improve disaster risk financing infrastructure, capacities, and policies across the continent by harnessing the financial expertise, in-country reach, and […]

ORIGINAL PUBLICATION HERE A number of countries belonging to the Association of Southeast Asian Nations (ASEAN) have signed a Memorandum of Understanding for the establishment of the region’s first disaster risk financing facility. The Southeast Asia Disaster Risk Insurance Facility (SEADRIF) will initially comprise a trust and an insurance company in Singapore, working in partnership […]

ORIGINAL PUBLICATION HERE Insurance-linked securities (ILS) investment fund manager Nephila Capital and Swedish state sector pension fund AP3 have both backed a near $390 million renewal for the Philippines regional parametric disaster insurance program. The so-called Parametric Insurance Policy provides insurance protection for disasters across 25 provinces on the Philippine eastern seaboard, with a particular […]

ORIGINAL PUBLICATION HERE The islands of the Bahamas are to benefit from a $100 million contingent loan arrangement from the Inter-American Development Bank (IDB), which will provide a source of liquidity after natural disasters and feature parametric triggers to activate loan disbursements. The use of contingent financing for recovery, rebuilding and financing response to natural […]