Representatives from PCRIC, African Risk Capacity, CCRIF SPC, and SEADRIF met in Italy to begin work on a shared risk finance platform for member states.
Insurers have set up 24/7 hotlines and the ICA has set up a task force and is working with the government to track claims and support Australians affected by the conflict.
The proposed fund, intended for building hard infrastructure against flooding in high-risk communities, would be co-invested by federal and state governments over 10 years.
