As climate and disaster risks are growing, many countries vulnerable to the impact of these risks are looking for paths to access insurance and its capabilities as tools to build economic, physical and social resilience. The Global Shield against Climate Risks supports countries vulnerable to the impacts of climate and natural disasters to strengthen Climate and Disaster Risk Financing and Insurance (CDRFI) systems.
Through this work, The Global Shield has found that many countries they work with still face barriers in accessing risk transfer solutions and insurance industry capabilities which are critical to strengthening resilience before disaster strikes.
The new partnership aims to facilitate more robust industry engagement with Global Shield partner countries’ Requests for Support, bringing demand and market-ready solutions closer together. It will also support the development of local insurance markets, risk analytics and the supervisory frameworks needed for sustainable domestic insurance market growth.
A central element of the partnership will be enhancing countries’ access to the Insurance Development Forum’s technical working groups and to its broader network of members and partners – including insurers, reinsurers, brokers, international organisations, development partners.
Resilience is built through public-private partnerships. It requires more than financing recovery; it needs capabilities, preparedness, partnership and action before crises occur.
This is how together, we help build Future Ready Nations.
Read The Global Shield against Climate Risks press release:
