FULL ORIGINAL PUBLICATION HERE The Monetary Authority of Singapore (MAS) has extended its insurance-linked securities (ILS) grant scheme to the end of 2022, as Singapore looks to build on recent positive momentum and attract more catastrophe bond issuers to its shores. Speaking today at our Artemis ILS Asia virtual conference, Mr. Benny Chey, Assistant Manager […]

As mentioned by AON in their Weather, Climate & Catastrophe Insight: 2019  Annual Report, last year brought $232 billion of economic losses from natural disasters whereby only $71 billion was actually insured. It outlined that the world continue to face a fundamental issue of insurance gap, especially in emerging and developing countries, where losses for businesses and governments are only increasing following […]

ORIGINAL PUBLICATION HERE The international community has pledged $1.25 billion to help Albania recover from a devastating earthquake during a European Union-led donors’ conference in Brussels.  “UN agencies have joined forces in developing and implementing the recovery measures based on the sectoral needs as identified by the Government,” said Mirjana Spoljaric Egger, Director of the […]

FULL ORIGINAL PUBLICATION HERE Despite the fact a catastrophe bond for Jamaica has not yet come to market, after receiving support to pay premiums for the in-development first issuance the Caribbean island nation is already preparing to budget for its future renewal. Jamaica’s government has been working towards sponsoring its first catastrophe bond for at least […]

FULL ORIGINAL PUBLICATION HERE The government of Mexico has returned to the catastrophe bond market with the help of the World Bank and its International Bank for Reconstruction and Development (IBRD), seeking a $425 million or larger slice of parametric earthquake and hurricane disaster insurance from the capital markets through an issue we’ve named IBRD / […]

FULL ORIGINAL PUBLICATION HERE Innovative insurance and reinsurance mechanisms such as catastrophe bonds, risk pooling facilities and parametric triggers are all key ways that risk mitigation can be improved in the world’s most vulnerable areas, Aon said today. The insurance and reinsurance broker highlighted the continuing issue of the protection gap and the need for […]

FULL ORIGINAL PUBLICATION HERE  City of 15 million is on a fault line rocked by a series of temblors Istanbul, Turkey’s biggest city with 15 million people, should prepare for an earthquake of magnitude 7.5. That was the chilling prediction of Interior Minister Suleyman Soylu after the temblor measuring 6.7 that killed dozens of people Jan. 24 in Elazig […]

ORIGINAL PUBLICATION HERE. LINK TO THE WORKSHOP PAGE HERE The human cost of disasters is not just measured in the deaths and injuries that they cause, but also in terms of their lasting economic impact on survivors and countries. Natural disasters don’t just destroy homes, factories, shops, and fields; they can altogether annihilate years of economic […]

ORIGINAL PUBLICATION HERE Establishing a national disaster insurance scheme is one of the main features of the UNDP’s NAP for Bosnia & Herzegovina. Improving BiH’s preparedness for dealing with Nat Cat events is instrumental considering the expected increase in flood losses and the very low current insurance coverage. Over the past eighteen years the country […]

Caribbean earthquake could prompt CCRIF coverage assessment

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FULL ORIGINAL PUBLICATION HERE A powerful magnitude 7.7 earthquake struck the Caribbean yesterday in the afternoon local time, swaying buildings as far away as Miami, Florida and causing some localised damage to countries including the Cayman Islands, Jamaica and Cuba. There have been no immediate reports of casualties and damage in the region appears relatively […]