You are here
Insurance 

Zurich will invest 1 billion US$ to promote resilience during floods

by

Justine Montminy

3 July 2018 13:30

The Flood Resilience Alliance, led by Zurich Insurance Grouphas extended its activities until 2023 with an additional funding of us $ 1 billion (G US $) offered by Zurich.

“Floods affect more people globally than any other type of natural hazard and cause some of the greatest losses of economic, social and humanitarian. The investment of a billion will serve to strengthen the resilience to flooding at a global scale in order to save lives, ” says the head of sustainability at Zurich, Linda Curb.

For the past five years, the alliance came to the aid of the approximately 110 communities in nine different countries.

The share of losses not insured important

According to a report from ClimateWise Investing for Resilience, of 175 G US $ of economic losses related to natural disasters, only 50 billion US dollars of losses were insured. This difference of 125 G US$ is explained by a lack of preventive measures.

“By strengthening the resilience to flooding, we understand how a community, a system or a society can pursue its development objectives and growth while managing the risk of flooding,” explains the program director of the Flood Resilience Program, Michael Szönyi.

Members of the Alliance

To set on foot the alliance, Zurich and is associated with the non-governmental organizations Concern Worldwide, the international Federation of Red Cross and Red Crescent, Mercy Corps, Plan International and Practical Action.

Zurich is also associated with research partners such as theinternational Institute for applied systems analysis, London School of Economics and the Institute for Social and Environmental Transition-International.

Related posts

Leave a Comment