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World Bank Group
Global natural disasters cost US$520 billion in losses every year, poor disproportionately affected: study
November 15, 2016 by Canadian UnderwriterThe impact of extreme natural disasters is equivalent to a global US$520 billion loss in annual consumption, forcing some 26 million people into poverty each year, a new report from the World Bank and the Global Facility for Disaster Reduction…
Spread of Zika virus brings new risks to U.S. carriers, insureds
August 15, 2016 by Canadian UnderwriterHealth insurers in the United States are advised to be vigilant in developing pandemic preparedness plans to respond to the new health risks associated with the Zika virus, notes a special report issued Friday by A.M. Best. With arrival of…
AIR Worldwide expands global pandemic model
July 25, 2016 by Canadian UnderwriterBoston-based catastrophe risk modelling firm AIR Worldwide announced on Monday that it has expanded its global pandemic model to include outbreaks of six additional diseases. The model now explicitly accounts for nine pathogens, including bacterial and viral diseases, in addition…
World Bank announces “first-ever insurance market for pandemic risk”
May 25, 2016 by Canadian UnderwriterThe World Bank Group has announced that it is creating the Pandemic Emergency Financing Facility (PEF), “an innovative, fast-disbursing global financing mechanism designed to protect the world against deadly pandemics, which will create the first-ever insurance market for pandemic risk.”…
UN, World Bank Group and insurance industry join forces for formation of Insurance Development Forum
April 18, 2016 by Canadian UnderwriterLeaders of the United Nations, the World Bank Group and the global insurance industry on Monday announced the formation of the Insurance Development Forum (IDF), which occurred at a high level meeting in Washington, DC, last week. The IDF has…