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Australia urged to use catastrophe bonds as disaster risk rises

Source(s): Thomson Reuters Foundation, trust.org
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Global reinsurance giant Swiss Re has urged the country's governments to cover the rising damages bill using insurance instruments such as 'catastrophe bonds' rather than one-off disaster levies, reports Reuters.

"We would like to see some form of insurance from government rather than a levy after the event," said Mark Senkevics, head of Swiss Re in Australia and New Zealand.

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Document links last validated on: 16 July 2021

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Themes Recovery Insurance and risk transfer Governance
Country and region Australia
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