The impacts from natural hazards continue to far outpace investments to strengthen homes, businesses, and critical infrastructure. We design, develop and implement innovative disaster risk financing solutions across regional, national and municipal levels to develop resilience to diverse perils across the world.
The 2015 Global Assessment Report on Disaster Risk Reduction estimates that the economic losses from disasters are nearly US$300 billion each year. From hurricanes and inland floods to wildfires and droughts, we face a range of risks likely to increase as vulnerable areas continue to urbanize in a changing climate.
Innovative risk financing
The Capital, Science and Policy Practice has deep knowledge and expertise of sovereign catastrophe schemes and complex regional risk management programmes, working with regional schemes, sovereign governments, multilateral and local organisations. We work globally, acting as the sole re/insurance broker to the existing regional catastrophe emergency response schemes:
- CCRIF SPC in the Caribbean / Central America
- African Risk Capacity in Africa
- Pacific Catastrophe Risk Insurance Company in the Pacific Islands
We have extensive expertise designing parametric and other index-based insurance solutions, as well as risk pool structures to protect communities and assets against natural hazards.
We also have current and key past involvement in many of the existing property insurance schemes, including the Californian Earthquake Authority and the Turkish Catastrophe Insurance Pool. Our experience includes developing municipal risk management programs for states across the U.S. and serving as broker to government sponsored enterprises, such as Fannie Mae and Freddie Mac.
Willis Towers Watson is involved across the project timeline, from inception, through to modelling, design and placement of risk. Strong collaboration to include the expertise and experience across Willis Towers Watson enables us to provide a wide range of services including captive management services and alternative risk transfer solutions.