The Insurance Development Forum (IDF) is pleased to announce its commitment to the UNEP FI Principles for Sustainable Insurance (PSI) by becoming a supporting institution.
Launched at the 2012 UN Conference on Sustainable Development, the UNEP FI Principles for Sustainable Insurance serves as a global framework for the insurance industry to address environmental, social and governance risks and opportunities.
A world at risk, Lloyd’s second underinsurance report, produced with CEBR, shows there is global underinsurance of $162.5bn in 2018.
This shows there is a significant gap between the level of insurance in place to cover global risks, and the actual cost to businesses and governments of rebuilding and recovering from major catastrophes.
Bridgetown, Barbados, October 22, 2018. On Friday October 19th, Barbados Prime Minister Honourable Mia Amor Mottley met with CCRIF CEO Mr. Isaac Anthony, Deputy Chairperson Mrs. Desirée Cherebin and Board member Mrs. Faye Hardy at a short ceremony to mark the payout by CCRIF to the Government of Barbados following the passage of Tropical Storm Kirk in October. The payout of US$5.8 million – or BDS$11.6 million – was made under the country’s Excess Rainfall policy and was made within 14 days of the event.
In this consultation paper (CP), the Prudential Regulation Authority (PRA) seeks views on a draft supervisory statement (SS) on banks’ and insurers’ approaches to managing the financial risks from climate change (see Appendix).
Bali, 14 Oct 2018– Finance Ministers from the V20 Group of climate vulnerable countries today sought large-scale changes to global finance flows, saying the funding shift needs to happen sooner, covering far larger amounts that can help protect economies from the worsening impacts of climate change. Convening at the World Bank-IMF Meetings in Bali, V20 countries said “the need to unlock investments for ambitious climate action is not only urgent but an absolute necessity given combined impacts from economic and climatic threats.”
