Building Resilience: Leveraging Insurance for Humanity

The Sendai Framework for Disaster Risk Reduction 2015 – 2030 set a clear pathway to reduce disaster risk and build resilience. The Insurance Development Forum (IDF) session will discuss ways to drive greater resilience to climate and disaster risks at the national and regional levels through collaborative efforts by the private sector, international organisations and governments. Highlighting ways to address the protection gap, the session will provide an overview of the insurance related resilience goals that drive the IDF and issue a joint call to action to the public and private sectors for increased collaboration and engagement.

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.

The IDF aims to optimise and extend the use of insurance and its related risk management capabilities to build greater resilience and protection for people, communities, businesses, and public institutions that are vulnerable to disasters and the associated economic shocks.