11 November 2021
GFIA has published a selection of charts on how property catastrophe insurance operates in different countries.
Insurers around the world play a key role in providing coverage for losses caused by natural hazards and advising policymakers in the design of disaster risk management and financing strategies.
However, insurers’ involvement and responsibilities vary depending on the legal framework and the exposure to natural catastrophe risks in each country. Insurance solutions therefore vary greatly between jurisdictions, ranging from optional private solutions to compulsory covers and national pools covering certain risks.
In order to better understand these differences and inform the debate on enhancing climate resilience, GFIA has compiled information about various natural disaster insurance and schemes across the world. The charts, published in the context of GFIA’s engagement at COP26, provide information on a number of markets, including data on coverage and market penetration for selected natural catastrophe risks, for both individual and commercial insurance lines.