Supervisors play an important role in addressing risks and challenges that climate change poses on the insurance sector. This call took a closer look at the IAIS and Sustainable Insurance Forum (SIF) “Issues Paper on Climate Change Risks to the Insurance Sector." An overview of the impacts of climate change on the insurance sector including current and future risks, and potential supervisory responses were explored.
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Extreme weather events continue to undermine the resilience of low income countries in particular, mainly due to a limited capacity to recover and absorb losses associated with climatic hazards. This consultation call focused on climate risk insurance. Practical examples of climate risk insurance at different levels (macro and micro) were given and the role of the insurance supervisor discussed.
Index-based insurances is defined as insurance contracts in which a claim is defined with reference to a pre-determined index (sometimes also referred to as parametric insurance). The paper, published on June 18th, focusses on the insurances usually directed at weather related or natural catastrophe event risks, primarily for insurance supervisors who are seeking to enhance financial inclusion in developing markets.
This paper seeks to provide a review of supervisory approaches to index insurance and to set out some of the regulatory and supervisory challenges faced by insurance supervisors. It is drawing on the results of an online survey carried out in the first half of 2017 together with telephone follow-up.
Read the Briefing Note to find out what were the key findings and lessons learned from the 11th Consultative Forum which took place in Lima, Peru on November 6, 2017.
The underlying goal of the Forum was to foster sound policymaking for the development and scaling up of agricultural insurance in Latin America. This was the last of a three-event series organised in 2017 on the topic of agricultural insurance as a tool for disaster resilience in Asia, Africa and Latin America.
This Consultative Forum was the second in a three-event series organised in 2017 on the topic of agricultural insurance as a tool for disaster resilience in the three developing regions of Asia, Africa and Latin America. The first event in the series, which took place in Singapore in March 2017, covered both indemnity- and index-based agricultural insurance, whereas this event focused exclusively on index-based agricultural insurance as an innovative tool for agricultural insurance to become more affordable for smallholder farmers.
There is growing awareness of the exposure of countries, private and public sector entities and individuals to potentially crushing economic loss as the result of natural disasters. There is also a recognition that the insurance sector has an important role to play in helping to assess risk, promoting loss prevention and mitigation and in risk financing for sovereigns, sub-sovereigns and others. This call explored the important role that insurance regulation plays in facilitating the deployment of insurance sector resources at the macro, meso and micro level in a
The A2ii Secretariat is proud to share with you the first edition of the A2ii policy notes: These notes will inform policy-makers, the international development community and other interested stakeholders about the importance of insurance regulation in supporting the achievement of international development objectives.
On constate une prise de conscience croissante de l’exposition des pays, des entités du secteur privé et du secteur public comme des individus aux pertes économiques potentiellement dramatiques dues aux catastrophes naturelles. Il est également de plus en plus reconnu que le secteur de l’assurance a un rôle important à jouer dans l’évaluation des risques, la prévention des pertes et leur réduction, ainsi que dans le financement des risques au niveau national, infranational ou autre.