United Nations launches insurance program to fund disaster relief
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The United Nations launched a new insurance program to provide extra funding for humanitarian aid before disasters occur. The UN Office for the Coordination of Humanitarian Affairs (OCHA) led the initiative in partnership with the United Nations Children's Fund (UNICEF) and the World Food Programme (WFP).
The program acts as a financial safety net to support people when forecasts predict upcoming disasters.
If the demand for funding exceeds a certain limit, insurers will provide additional resources to help aid workers reach more people. Gallagher Re structured the coverage with Liberty Mutual as the lead insurer, while the Centre for Disaster Protection provided technical advice. This initiative supports anticipatory action, where families receive cash to buy food or move to safety before a crisis hits.
For example, a woman in Bangladesh received cash 24 hours before floods arrived in 2024, allowing her to protect her livestock and belongings. The insurance helps protect OCHA's 150 million dollar anticipatory action portfolio, which currently covers more than five million people.
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