UN launches insurance safety net to help protect families before disasters strike
Originally published by Caribbean News Global Read the original
NEW YORK, USA – The United Nations has launched a first-of-its-kind insurance programme that could unlock up to USD 40 million in additional funding to help reach people before they lose their homes, food or livelihoods when multiple disasters threaten at once, putting exceptional pressure on available resources.
The initiative – led by the UN Office for the Coordination of Humanitarian Affairs (OCHA), in partnership with the United Nations Children’s Fund (UNICEF) and the World Food Programme (WFP) – works as a financial safety net.
OCHA will allocate money to help people when forecasts warn of an approaching disaster. If demand for that funding exceeds an agreed threshold, insurers will provide additional resources, allowing aid workers to reach more people in time to save lives. Gallagher Re structured and placed the coverage, with Liberty Mutual as lead insurer. The Centre for Disaster Protection provided independent technical advice.
“Disasters don’t wait for us to get our act together. We need to be ready before they strike,” said Tom Fletcher, UN emergency relief coordinator. “This insurance gives us another line of defence against disaster so we can protect more people before the worst hits and make every dollar work harder.”
For families in the path of a disaster, that early help can make all the difference. In Bangladesh, Salma received cash assistance from WFP, funded by OCHA’s Central Emergency Response Fund (CERF), 24 hours before floods hit in 2024. She bought dry food, candles and firewood, and raised her bed and livestock pens above the floodwater to protect her belongings and animals. “We managed to cook and eat, which brought us relief during the crisis,” she said.
This is anticipatory action: a forecast triggers help, rather than families having to suffer first. Money arriving early gives people choices – to buy food, protect what they own or move to safety.
OCHA’s $150 million anticipatory action portfolio covers more than five million people. Insurance helps protect that commitment when several disasters threaten at once. By capping the amount OCHA needs for exceptionally difficult years, it can also help extend early assistance to more communities.
UNICEF has taken out parallel cover for its contribution to the same work. The programme is designed so that more agencies and partners can join over time.
