Reinsurance firm Swiss Re, with partners PT Asuransi Wahana Tata (Aswata) and Mercy Corps, have recognised the protection gap opportunity to provide risk transfer to capital providers, launching a parametric earthquake insurance product targeted at micro-finance institutions (MFIs) in Indonesia.
One of the recognised protection gaps is the capital that pours into developing regions of the world and emerging economies from banks, lenders, MFI’s and the like. This capital is typically not protected against catastrophe or weather risks, meaning that when disaster does strike the capital can be drained from the country just at the time it is most needed.
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Hazards
Earthquake
Themes
Insurance and risk transfer
Country and region
Indonesia