World Bank targets sovereign disaster risk transfer
Monday, 04 11 2016, Category: Insurance and Reinsurance, Country: World
The World Bank Group aims to expand the use of sovereign disaster risk transfer instruments by the year 2020, hoping to add five more countries to those covered by instruments such as insurance, risk pools and contingent finance.
In 2014 the World Bank helped more than 12 countries to improve their post-disaster financial response capacity and of course is behind some of the established catastrophe risk pools such as the Caribbean Catastrophe Risk Insurance Facility (CCRIF SPC) and the Pacific PCRAFI arranged Pacific Catastrophe Risk Insurance Pilot.
Additionally, the World Bank was of course behind the MultiCat catastrophe bonds for Mexico.