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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

Update

Climate crisis helped drive payouts to seven-year high, say insurers

Last year, UK insurers paid out a record £573m in weather-related claims, £150m more than in 2022. The average weather-related payout was nearly £5,000 in 2023, compared with a little over £3,000 the year before.
Guardian, the (UK)
Two women dressed in the traditional Indian Saree are walking through the narrow streets of the blue city of Jodhpur, Rajasthan, India.
Update

The novel structure behind a parametric solution for SEWA in South-East Asia

Following the May 2024 heat waves in India, insurance payouts for lost income were made to over 46,000 women in South-East Asia. This represented a relative novelty where insurance payouts and a direct cash assistance programme had been combined.
Swiss Reinsurance Company (Swiss Re)
Update

After historic floods, the safety net failed small farmers

Climate disasters are killing the largest subset of California farms. Government programs are too
High Country News
Indigenous Fijian girl walking on flooded land in Fiji
Update

Introducing new and scaling existing climate risk parametric insurance products in Fiji

The project’s objective is to provide an affordable solution to low and middle-income households and SMEs by offering market-based climate and disaster risk financing (CDRF) instruments tailored to the specific needs of Pacific communities.
InsuResilience Solutions Fund
Jute farming has grown drastically in rural West Bengal.
Update

Income protection and early warning systems: How India is building climate resilience

India's government agencies and business leaders are working on a number of effective sector-specific local and national strategies. These initiatives could be replicated to help vulnerable communities in other parts of the world.
World Economic Forum
Update

CCRIF CEO visits Grenada, hands over payouts of US$55.6 million (EC$150 million) to its members in Grenada

On July 11, CCRIF Chief Executive Officer, Mr. Isaac Anthony and members of the CCRIF team met with Grenada's Prime Minister, to present the payouts totalling US$44 million for the triggering of the Government's tropical cyclone.
Caribbean Catastrophe Risk Insurance Facility, the
Update

China’s extreme weather raises alarm about the country’s disaster insurance gaps

China’s insurers need to catch up, particularly in addressing emerging risks associated with climate change, insurance industry specialists say.
South China Morning Post
Update

How will the U.S. flood insurance market evolve amidst rising risks and modeling advancements?

The U.S. flood insurance market is experiencing a notable transformation, influenced by various factors, from the increasing occurrence of flood events to regulatory developments and advances in modeling.
Moody's Investors Service
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