Launch of World Bank study on risk pooling

Berlin, 23 May 2017 – Climate risk insurance offers rapid support to lessen the negative impacts of extreme weather events and helps to limit potential damages. This is the conclusion of a study that was presented by the Federal Ministry for Economic Cooperation and Development at the Petersberg Climate Dialogue: Climate risk insurance offers reliable and fast protection, particularly when compared with traditional emergency aid.

The Federal Ministry for Economic Cooperation and Development commissioned the World Bank to conduct this study. It aims to prepare the discussions within the G20 and demonstrates that catastrophe risk pools can play an important role in moving the management of storms, floods, droughts and earthquakes away from uncertain, ad hoc humanitarian assistance.

Dr. Jan Walliser, Vice President of the World Bank said: “Regional risk pools can help developing countries that are otherwise insufficiently protected against extreme weather events to gain access to insurance and other financial solutions to prepare for these risks.”