Press Releases
3rd November, 2021
PRESS RELEASE: COP26: IDF and V20 Announce Partnership in Risk Understanding to Build Global Resilience to Climate Risk; IDF Announces other Multi-Partner Resilience Actions
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Latest News
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Uncategorised
21st September, 2021
UN Secretary General issues call to action for insurance ahead of COP26
In his closing remarks for the IDF Summit 2021, Secretary General of the United Nations, António Guterres laid out four steps forward for the insurance sector to advance the global resilience and mitigation agenda in the face of climate change.
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Press Releases
17th September, 2021
Weathering Climate Risk: V20 Group and the IDF call for joint collaboration and international support to strengthen global physical climate risk management capabilities
The Insurance Development Forum (IDF) and the Vulnerable Twenty (V20) Group of Ministers of Finance shared their joint vision to establish a global public private partnership on risk and resilience analytics and underscored the necessity to develop risk analytics based on country demand in a roundtable on the margins of the United Nations General Assembly with the theme “Strengthening Global Physical Climate Risk Management Capabilities”.
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About us
The IDF is a public/private partnership led by the insurance industry and supported by international organisations. The IDF was first announced at the United Nations Conference of the Parties (COP21) Paris Climate summit in 2015 and was officially launched by leaders of the United Nations, the World Bank and the insurance industry in 2016.
Perspectives
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"Tokio Marine always aspires to be a Good Company and this is totally aligned with playing a leading role in the global effort to provide financial protection to underserved disaster-prone communities.
With its network of experts across governmental agencies and the private sector, the IDF has the potential to deliver practical solutions to these fragile areas. We are delighted to participate."
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"It is the people in developing and emerging countries who suffer most from the catastrophic impacts of natural disasters on their livelihoods. We are happy to have joined the IDF in order to initiate public-private partnerships with governments, multilateral organizations and insurers so that we can foster insurance take-up in vulnerable countries. This adaptation to climate change will benefit society as a whole."
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"UNDP Co-Chairs the Insurance Development Forum because we believe that insurance can be a powerful tool in changing the opportunities and lives of millions of people. More than 90% of the economic costs of disasters are currently uninsured in the developing world, meaning that when disaster strikes, millions of people lose their jobs and their homes with no compensation and no chance to rebuild their lives. Closing this “protection gap” would help ensure that hard won progress is truly sustainable in the long run."
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"The dynamic is elegant and simple: without insurance, there’s no investment, there’s no innovation, and there’s no growth. It’s hard to find an industry more global or more beneficial to society."
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"Aon is extremely proud to be associated with the Insurance Development Forum. The IDF’s important work of utilizing insurance and risk management capabilities to build greater resilience and protection for people, communities, businesses, and public institutions that are vulnerable to disasters and their associated economic shocks, aligns to Aon’s own aims and initiatives. This work is key to ensuring society at large has a risk-informed and sustainable future and that the insurance industry is working collaboratively to such an objective."
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"The Insurance Development Forum is a unique and unprecedented public-private partnership driving critical collaboration between industry leaders and key international bodies on insurance and international development to achieve the UN development goals. I am honoured to lead this important institution in leveraging the insurance industry's extensive expertise for real impact."
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"The Co-operators has supported the development of community based micro-insurance solutions in the developing world for decades. The IDF project has brought together a powerful partnership that has accelerated this work and will more rapidly close the protection gap for those most vulnerable to the impacts of climate change."
0 million
the number of poor and vulnerable people the InsuResilience Global Partnership Vision 2025 aims to cover against climate and disaster shocks by pre-arranged risk finance and insurance mechanisms. The IDF is a key partner and contributor towards this vision
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the number of countries the IDF-UNDP-BMZ Tripartite Agreement aims to assist with sovereign disaster risk financing tools and strategies by 2025
0 billion USD
the amount of underwriting risk capacity pledged by the insurance industry to tackle climate and disaster risks
Perspectives
-
"Tokio Marine always aspires to be a Good Company and this is totally aligned with playing a leading role in the global effort to provide financial protection to underserved disaster-prone communities.
With its network of experts across governmental agencies and the private sector, the IDF has the potential to deliver practical solutions to these fragile areas. We are delighted to participate."
-
"It is the people in developing and emerging countries who suffer most from the catastrophic impacts of natural disasters on their livelihoods. We are happy to have joined the IDF in order to initiate public-private partnerships with governments, multilateral organizations and insurers so that we can foster insurance take-up in vulnerable countries. This adaptation to climate change will benefit society as a whole."
-
"UNDP Co-Chairs the Insurance Development Forum because we believe that insurance can be a powerful tool in changing the opportunities and lives of millions of people. More than 90% of the economic costs of disasters are currently uninsured in the developing world, meaning that when disaster strikes, millions of people lose their jobs and their homes with no compensation and no chance to rebuild their lives. Closing this “protection gap” would help ensure that hard won progress is truly sustainable in the long run."
-
"The dynamic is elegant and simple: without insurance, there’s no investment, there’s no innovation, and there’s no growth. It’s hard to find an industry more global or more beneficial to society."
-
"Aon is extremely proud to be associated with the Insurance Development Forum. The IDF’s important work of utilizing insurance and risk management capabilities to build greater resilience and protection for people, communities, businesses, and public institutions that are vulnerable to disasters and their associated economic shocks, aligns to Aon’s own aims and initiatives. This work is key to ensuring society at large has a risk-informed and sustainable future and that the insurance industry is working collaboratively to such an objective."
-
"The Insurance Development Forum is a unique and unprecedented public-private partnership driving critical collaboration between industry leaders and key international bodies on insurance and international development to achieve the UN development goals. I am honoured to lead this important institution in leveraging the insurance industry's extensive expertise for real impact."
-
"The Co-operators has supported the development of community based micro-insurance solutions in the developing world for decades. The IDF project has brought together a powerful partnership that has accelerated this work and will more rapidly close the protection gap for those most vulnerable to the impacts of climate change."
