Bonn: Initiative to increase insurance coverage for climate-related disasters launched at UN conference
In 2017, extreme weather events are estimated to have caused more than
“The Global Partnership is a practical response to the needs of those who suffer loss because of climate change,” said the
This announcement on climate risk insurance was made a day before the high-level segment of
“Climate risk insurance is a response to the simple fact that extreme weather events are constantly increasing in number and intensity, and also a response to our experience that the international community and the countries affected by extreme weather events tend to really act after those incidents occurred and they tend to come too late and to intervene not significantly enough,”
“So our intention is to act more preemptively, to act in time, and to act decisively in order to reduce the impact of extreme weather events. Insurance is one tool to address this challenge,” he added.
A partnership for climate and disaster risk finance and insurance solutions
“This new and higher-ambition initiative represents one shining example of what can be delivered when progressive governments, civil society and the private sector join hands with creativity and determination to provide solutions,” said
The Caribbean Catastrophe Risk Insurance Facility (CCRIF), for example, is being supported with the help of ‘InsuResilience.' The most recent example of support was in
The money was used in various ways, for example, to quickly buy urgently needed medicines and to build emergency shelters for the people affected by the storms.
In
SOURCE
Health IQ Secures $34.6 Million In Series C Funding Led By Andreessen Horowitz
Northern Trust Announces Two Elected Fellows of The American College of Trust and Estate Counsel
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News