After a weekend of discussions in Cornwall, UK, leaders of the G7 (Group of Seven) economies have made a range of commitments to expanding climate and disaster risk insurance, alongside other climate financing pledges.
Climate risk and resilience is one of the hottest topics for global leaders this year, the G7 meetings at Carbis Bay, Cornwall seen as one of the key points on the road towards the 26th UN Climate Change Conference of the Parties, or COP26, later this year.
Following the G7 summit, the United States has made a range of specific commitments of note to the global insurance and reinsurance industry, not least the fact it has joined the InsuResilience Global Partnership.
“To reach the partnership’s goal of protecting 500 million poor and vulnerable people against climate shocks by 2025, USAID will help partner governments improve their ability to avert and minimize damage to those most at risk. Through these investments in relief before…