German Govt. & KfW launch initiative offering insurance against climate-related risks in developing countries

Author: KfW, Tagesspiegel, Published on: 16 October 2017

"Hurricanes, flooding and droughts: KfW promotes the development of climate risk insurance", 12 October 2017

Today, KfW and the Federal Ministry for Economic Cooperation and Development (BMZ) have launched a further component of the climate risk insurance initiative InsuResilience, which was initiated at the G7 summit, and aims to offer insurance against climate-related risks to an additional 400 million poor and vulnerable people in developing countries and emerging economies all around the world by 2020. The InsuResilience Solutions Fund (ISF) is endowed with EUR 15 million and is to improve the range of climate risk insurance in developing countries and emerging economies... The ISF is thus making an important contribution to satisfying unfulfilled demand in the climate risk insurance sector... "The involvement of the private sector is of essential importance for the development of innovative and sustainable climate risk insurance products and contributes to satisfying unfulfilled demand", said Prof Dr Joachim Nagel, General Manager of KfW.

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Related companies: KfW