Rob Marris – 2016 Parliamentary Question to the Department for International Development
The below Parliamentary question was asked by Rob Marris on 2016-10-17.
To ask the Secretary of State for International Development, what plans her Department has made to publicise Government support for the (a) African Risk Capacity, (b) Catastrophe Risk Insurance Facility and (c) Pacific Catastrophe Risk Assessment and Financing Initiative at the Marrakesh Climate Conference, to be held in November 2016.
Rory Stewart
The UK’s support to African Risk Capacity (ARC), the Caribbean Catastrophe Risk Insurance Facility (CCRIF) and the Pacific Catastrophe Risk Assessment and Financing Initiative (PCRAFI) is managed by the Department for International Development (DFID).
In December 2015, every G7 nation set out how they will meet a collective target to reach an additional 400 million people with risk insurance by 2020. The UK has led the way, making excellent progress in delivering on its pledges of support for Climate Risk Insurance in the past year including funding for ARC and PCRAFI. UK Ministers have been invited to participate in side events at the Marrakesh Conference of Parties (COP) meeting to highlight progress with the G7’s InsuResilience climate risk insurance initiative and on ARC.
Currently, just 5% of losses from natural disasters in low-income countries are covered by insurance (against around 40% in developed countries), leaving millions with nothing to rebuild their lives after disaster strikes. UK initiatives give countries and people the tools they need to get themselves back on their feet, which is firmly in our national interest.
