World Bank News

Why Year-Long Ebola Outbreak Hasn’t Triggered Payout from Pandemic Insurance

World Bank funding instruments issued to help emerging countries swiftly tackle pandemics have come under the spotlight after the latest deadly Ebola outbreak has yet to trigger a payout. Following the 2013-2016 Ebola outbreak that ravaged Sierra Leone, Guinea and …

Robots Haven’t Eliminated Many Jobs – So Far: World Bank

The rise of automation has so far had a negligible impact on jobs at a global scale, the World Bank chief economist said, despite common gloomy predictions that humans are set to be replaced by machines. While advanced economies have …

AXA’s Duverne Named Chairman of Insurance Development Forum, Replacing Catlin

The Insurance Development Forum (IDF) announced the appointment of Denis Duverne as chair of its Steering Committee, succeeding Stephen Catlin, effective Sept. 11, 2018. The IDF is a public-private partnership, led by a senior insurance industry executive and supported by …

Almost Half of South Asia Vulnerable to Climate ‘Hotspots’: World Bank

Changes in temperature and rainfall will impact almost half of South Asia in the coming decades, reducing economic growth in one of the world’s poorest regions, the World Bank said. A World Bank report released on Thursday [June 28] analyzes …

Green Cat Bonds Aren’t a Thing – Yet

Green cat bonds. That slinky phrase is one that Greg Lowe, global head of resilience and sustainability for Aon, would enjoy hearing uttered frequently in the near future. Lowe has been talking with an increasing number of people in the …

World Bank Catastrophe Bonds to Provide Mexico with Disaster Cover of $360M

The World Bank Group issued its largest catastrophe bond, providing Mexico with financial protection of as much as $360 million against losses from tropical cyclones and earthquakes. Mexico is among the countries most vulnerable to natural disasters, the bank said …

AIR Worldwide Expands Global Pandemic Model to Include 6 Additional Diseases

Boston-based catastrophe risk modeling firm AIR Worldwide (AIR) announced it has expanded its Global Pandemic Model to include outbreaks of six additional diseases. The model now explicitly accounts for nine pathogens, including bacterial and viral diseases, in addition to previously …

Pandemics and Climate Change Present Opportunity for Insurers

The shoe may eventually be placed on the other foot for the U.S. This nation has a long-standing tradition of innovating products and ideas – particularly insurance products – and then exporting them to other countries. Now the U.S. may …

Re/Insurance CEOs Join Insurance Development Forum, UN & World Bank Initiative

A group of re/insurance and global broking CEOs are assisting the work of the Insurance Development Forum (IDF), which was launched last month to help build resilience to climate risk and natural disasters, while bridging the insurance protection gap for …

XL Catlin Exec Heads Public-Private Forum to Close ‘Protection Gap’ for Disasters

The insurance industry, the United Nations and the World Bank have formed a public-private partnership designed to help bridge the “protection gap” for developing nations, which struggle increasingly from the burden of uninsured economic losses after natural disasters. The Insurance …