DRFF in the News
Mar 21
2023
Photo Credit: Sean Yoro on Unsplash
The Philippines, located in the Pacific ring of fire, is one of the world’s most high-risk countries. Every year, it is hit by disasters such as typhoons, earthquakes, volcanic eruptions, and floods. Over the past decade, the country has become a risk finance champion in the region, expanding the menu of tools and instruments for financial resilience to disasters. The innovations include the institution of the first catastrophe bond and development of a parametric insurance program for the... Keep reading
Mar 20
2023
Washington D.C., March 17, 2023 - The International Bank for Reconstruction and Development (IBRD), today priced a joint catastrophe bond and swap transaction that provides a total of $630 million of earthquake insurance coverage to the Government of Chile, which consists of $350 million of catastrophe bonds and $280 million of catastrophe swaps. By simultaneously offering the risk to both bond investors and to insurance and reinsurance companies in swap form, the World Bank and Chile were able... Keep reading
Mar 20
2023
Photo Credit: UNFP/Photolibrary
The Government of Djibouti has signed the first-ever multi-year, multi-peril agreement on the African continent with the African Risk Capacity Group (ARC Group) to protect the lives and livelihoods of its most climate-vulnerable communities. The ground-breaking agreement means that the country in the Horn of Africa now has access to five years of disaster risk management capacity building and disaster risk insurance coverage offered by the ARC Group, covering two of its most prevalent hazards... Keep reading