About

Ten cities in Latin American and the Caribbean undergo a risk assessment of their key assets and areas, which informs and tailors insurance coverage.

These products transfer their natural disaster risks to a risk pool that leverages economies of scale and risks sharing between insurers and reinsurers, thus reducing the premium costs for cities.

Following damaging natural disasters, cities benefit from rapid access to financial resources to rebuild critical infrastructures and help the most vulnerable residents cope with the impacts. By 2025, UIIF aims to develop tailor-made insurance coverage worth 100 million euros that covers at least 7.5 million people.

Facilitated access to climate finance thanks to better risk management

More affordable insurance coverage than cities could acquire on their own

Climate-disaster risk transferred to the private sector

Balance sheets are relieved from directly covering losses after natural disasters

More owned resources to rebuild critical infrastructure and support the most vulnerable residents

Legal and technical support

Greater understanding of the risks to critical infrastructure and residents who are more vulnerable to climate impacts

Opportunity of establishing long-lasting relationships with financial institutions and banks

Reputation as urban insurance pioneer in Latin America and the Caribbean

7 stages for project implementation

The UIIF 7-Stage Roadmap is a guideline with clear steps and results to be followed by cities, implementers, and partners to make the project a success. It involves screening, selecting, supporting, and guiding selected cities towards developing the necessary capacities to better manage urban risks and acquire an insurance premium, while allowing organizing, connecting, and coordinating activities from the project’s 3 components and related consultants.

Partners and funders

UIIF is financed by KfW Development Bank on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ) and implemented by ICLEI – Local Governments for Sustainability.

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