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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

Women irrigate and till the soil in a garden
Update

How early warning systems and parametric insurance can build climate resilience in Africa

Up to 60% of the over 1.2 billion population in Africa is not protected by early warning systems. Improvements in risk modelling and disaster preparedness have significant implications for strengthening climate resilience in Africa.
World Economic Forum
A stack of sandbags in front of a door.
Update

CCRIF provides first payout of 2024 to the government of Guatemala of US$6.4 million associated with rainfall

CCRIF SPC made a payout on July 1, 2024, of US$6,376,184 to the Government of Guatemala on its excess rainfall policy following heavy rains that occurred during June 13th-19th.
Caribbean Catastrophe Risk Insurance Facility, the
Cover
Documents and publications

Understanding climate and disaster risk finance and insurance solutions in the Asia Pacific

To gain a deeper understanding of the role of CDRFI in the Asia-Pacific region, WFP undertook a study to explore the challenges and opportunities associated with the use of various macro-level instruments to support government disaster response.
Hand stopping wooden blocks from falling on a house
Update

To insure or self-insure? The question homeowners must answer amid impact of climate change

If catastrophic weather events continue to escalate, so-called “self-insurance” – buying no insurance and paying for any losses yourself – might be the only viable option for homeowners living in disaster-prone areas.
Conversation Media Group, the
Update

ISF continues to support Nagaland’s climate risk insurance program with further premium subsidy support

To enhance Nagaland's ability to respond to natural disaster events, the InsuResilience Solutions Fund (ISF) co-funded the development and implementation of a parametric insurance solution.
InsuResilience Solutions Fund
Update

Flooding costs the U.S. between $179.8 and $496.0 billion each year

The JEC staff estimates that the total cost of flooding in the United States is between $179.8 and $496.0 billion each year in 2023 dollars. Regardless of the exact number, it is clear that floods represent a massive cost to the U.S. economy.
Joint Economic Committee
Homeowners in front of their house after floods.
Update

Building better buyouts through lived and learned experience

Home buyouts that reduce risk and benefit communities must draw from both the lived experience of residents and the learned experience of professionals.
Natural Resources Defense Council
Hand stopping wooden blocks from falling on a house
Update

Dominican Republic at the forefront of adaptive social protection systems

In a challenging context, the experience of the Dominican Republic demonstrates that adaptive social protection is a powerful tool for reducing poverty and vulnerability, and promoting sustainable growth.
World Bank, the
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