COSEFIN countries seek joint World Bank catastrophe bond
The Council of Ministers of Finance of Central America, Panama and the Dominican Republic (COSEFIN) hopes to tap into the capital markets for disaster insurance protection through a joint catastrophe bond issuance, with the support of the World Bank. The COSEFIN countries already benefit from parametric disaster insurance protection through the CCRIF SPC, but having […]
WBG: Sovereign catastrophe risk pools – 15 years on and still more to come
Like many other good ideas, this one started on a paper napkin. Fifteen years ago, a World Bank team was in Jamaica to arrange emergency relief funding to cope with destruction of Hurricane Ivan. This disaster destroyed 6,000 houses and affected almost 400,000 people. In a restaurant in Kingston, we began brainstorming ideas for creating […]
The Belt and Road Ministerial Forum for International Cooperation in Disaster Risk Reduction and Emergency Management 2021
FULL PUBLICATION BY CHINA DAILY HERE
Using Parametric Insurance to Address Rapid Post-Disaster Financing
Introduction The Philippines is a disaster-prone country as it is located on the Pacific Ring of Fire and within the Western North Pacific basin, one of the basins where tropical cyclones are formed. Catastrophic typhoons like Haiyan (Yolanda) in 2013, Bopha (Pablo) in 2012, and Ketsana (Ondoy) in 2009, and earthquakes like the Bohol and […]
