The payout marks Nepal’s first use of a parametric drought insurance policy, stakeholders said, with funds supporting food aid and farming tools in Bajura district.
New mapping tools allow (re)insurers to explore physical climate risk, identify spatial patterns and hotspots, and compare impacts under different climate scenarios.
Review says 71% of New Zealanders expect natural disasters to worsen, while 65% accept premiums may rise as weather losses and rebuilding costs increase.
All APAC insurers surveyed reported moderate-to-very high concern about physical risk creating broader financial instability, but only 36% have integrated it into overall risk management.
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.
