The Steering Committee is accountable for overall performance of the IDF and in particular is responsible for:
- Reviewing, providing guidance and strategic direction on the annual work plans, budgets and reports provided by the Operating Committee;
- Acting as interface with industry and other development partners at a strategic level;
- Providing guidance on criteria and other methods for prioritisation of IDF efforts and supporting resource acquisition, allocation and mobilisation;
- Providing strategic guidance and oversight on activities of the IDF, operating practices and models;
- Giving guidance and strategic direction to the Operating Committee and Secretariat for program implementation.
The IDF Steering Committee is led by industry leaders, UN agency leaders, international institutions and others. It is Chaired by Denis Duverne (Chairman, AXA) and co-chaired by Achim Steiner (UN Development Program (UNDP) Administrator) and Joaquim Levy (World Bank Group, Managing Director and Chief Financial Officer).
The Operating Committee reports to the Steering Committee and is responsible for recommending responses, overseeing the IDF Working Groups and driving delivery of agreed targets and objectives. Responsibilities specifically include:
- Providing executive direction and management of the IDF and its related activities;
- Maintaining stakeholder liaison, public and private institutions and partner organisations;
- Creating IDF Working Groups and appointing Working Group Chairs and Co-Chairs;
- Reviewing and approving Working Group action plans prepared by Working Group Chairs and reviewing on a regular basis the progress of implementation of agreed action plans and ensuring appropriate reporting;
- Setting priorities and developing the IDF work program jointly with the IDF Secretariat.
- Agreeing IDF administrative arrangements and related resourcing, budgets, and support with the International Insurance Society (IIS) management and leadership in collaboration with the Secretary General;
The Chair, Deputy Chair and Co-Chairs of the Operating Committee are (non-voting) members of the Steering Committee and report into the Steering Committee in its entirety on progress with respect to implementation of the strategy and work programs.
The Committee is Chaired by Rowan Douglas (Willis Towers Watson). The Deputy Chair is Ivo Menzinger (Swiss Re). The Co-Chairs are Jan Kellett (UNDP) and Olivier Mahul (World Bank Group).
The Secretariat supports the day-to-day activities and needs of the IDF. This includes:
- Providing a visible and central point of contact for the IDF
- Liaising with IDF-related facilities, programmes, initiatives and stakeholders
- Supporting administrative needs of Chair of the SteerCo, the SteerCo, the OpCo and Working Groups
- Serving the OpCo Committee in the implementation of IDF activities
- Conducting due diligence to ensure alignment with IDF objectives, policies and procedures
- Supporting the design, development and implementation of the IDF Working Groups / Sub-Working Groups and annual work plans;
- Monitoring and reporting results to the OpCo and SteerCo and liaising with development partners and industry (as needed);
- Informing and communicating with industry and development partners on the activities of the IDF;
- Advocating on behalf of the IDF with public and private sector institutions and bodies and ensuring visibility of the activities supported by the IDF;
- Implementing (i) the operational activities of the IDF in collaboration with the OpCo, and (ii) providing operational support to the activities of the Chair of the SteerCo.
The Secretariat is led by the Secretary General, Ekhosuehi Iyahen.
The IDF Op-Co is a semi-autonomous committee of the International Insurance Society (IIS) comprising senior executives and officers from the insurance industry, public sector institutions, NGOs and academia.
The IIS is a global not-for-profit research and educational forum for all insurance industry stakeholders, probing vital issues and utilizing world class research as a force to drive growth and innovation toward sustainable risk management. Its vision is to shape the future of the global insurance industry as a key contributor to the study of economic and social development of markets.
As a key IDF partner, the IIS was instrumental in the establishment of the IDF and advocating on its role and importance, including hosting an annual conference as part of the IIS Global Insurance Forum. In addition, the IIS hosts the IDF Secretariat and provides administrative, Human Resources and other operational services and support.
Mike Morrissey, President and CEO of the IIS, is an Ex-Officio member of the Steering Committee. Further information on the IIS can be found here: https://www.internationalinsurance.org/
IDF Working Groups includes over 200 experts and practitioners from industry, governments, international institutions, NGOs and academia who have been engaged across different priority areas since April 2016. These priorities are assessed and driven forward by five dedicated working groups whose evolving membership is drawn from private and public institutions. IDF working Groups are:
Sovereign & Humanitarian Solutions (SHS)
Chair: Ivo Menzinger (Swiss Re)
PURPOSE: Focusing on the needs of sovereigns, sub-sovereigns, international institutions, and humanitarian agencies in programmes and territories that are usually supported by donors or developments banks, the SHS will foster information flow and coordination of interactions between industry, civil society, multi-laterals and relevant government entities on “macro” solutions.
This will include supporting:
- Innovation / product development
- Transaction development
- Capacity building
Risk Modelling Steering Group (RMSG)
Chair: Ian Branagan (RenaissanceRe) Co-chair: Marc Gordon (Head of UNISDR’s Global Risk Analysis and Reporting Unit)
PURPOSE: The RMSG is dedicated to improving global understanding and quantification of natural hazards disaster risk, through use, development and sharing of the re/insurance sector’s catastrophe risk modelling capability. Risk literate users in vulnerable countries should be able to access all relevant models and datasets, use them on their preferred platform, develop them further and have trust in the results. The amount of duplicated effort and inefficiency in the risk modelling system should also be reduced.
Law, Regulation and Resilience Policies (LRRP)
Chair: Bill Marcoux (DLA Piper)
PURPOSE: A priority focus of the LRRP working group is developing accessible insurance regulation and public policy frameworks that enable and enhance sustainable development and economic and social resilience to large-scale disasters.
Initial focus areas include developing a catalogue of regulatory and policy issues that impact the use of risk management tools in vulnerable nations and engaging with supervisors to create a regulatory framework that local governments can use to further develop their legal and regulatory platforms.
Co-Chairs: Shaun Tarbuck (ICMIF) Dr. Joan Lamm Tennant (Blue Marble Ventures) and Alexandra Rudolph, The Federal Ministry of Economic Cooperation and Development (BMZ)
PURPOSE: The focus of the Microinsurance working group is to drive and enhance coordination and collaboration on microinsurance projects and to maximize the impact and efficiency, both in technical assistance and funding, of resilience-building programs which are operating in local communities vulnerable to climate change.
Co-Chairs: Jan Kellett (UNDP) and David Lomas (BlackRock)
PURPOSE: To explore how insurers, working with development banks and others, can support the requirements for investment in resilient and sustainable infrastructure in emerging and developing countries.