FOR IMMEDIATE RELEASE
Global Shield against Climate Risks Announces New Partnership with Insurance Development Forum to Strengthen Climate and Disaster Risk Insurance Markets
Global Shield & Insurance Development Forum will support vulnerable countries in accessing insurance and risk transfer solutions and benefiting from insurance sector expertise.
London, June 24, 2026 – The Global Shield against Climate Risks today announced a partnership with the Insurance Development Forum designed to strengthen the role of risk transfer in protecting vulnerable countries from climate and disaster risks.
The Global Shield supports countries vulnerable to the impacts of climate and natural disasters in strengthening Climate and Disaster Risk Financing and Insurance (CDRFI) systems through structured country processes, including stock takes, gap analyses and Requests for Support. A strong demand for risk transfer solutions and for access to the insurance industry’s risk capabilities is evident in countries working with the Global Shield. The partnership will therefore help ensure that countries can access insurance and risk transfer expertise in a way that supports open competition, responsible market development and long-term financial resilience.
The partnership aims to facilitate more robust industry engagement with Global Shield partner countries’ Requests for Support, bringing demand and market-ready solutions closer together. It will also support the development of local insurance markets, risk analytics and the supervisory frameworks needed for sustainable domestic insurance market growth, as further work is needed for context specific, targeted solutions to meet country needs. Furthermore, the partnership will enhance countries’ access to the Insurance Development Forum’s network of insurers, reinsurers, brokers, international organisations, development partners and technical working groups. It will operate in line with the Forums’ Principles of Engagement, ensuring that private sector participation remains neutral, transparent and pre-competitive.
“Through this partnership, we will build regulatory capacity and bring industry expertise to bear that can close access gaps, and work to ensure that insurance solutions are put in place that reflect national priorities and strengthen long-term resilience” said Marike Brady, Director of the Global Shield Secretariat.
Ivo Menzinger, Chair of the Insurance Development Forum Operating Committee, said, “Facilitating the use of insurance capabilities and solutions to enhance resilience in developing and emerging economies is a core objective of the Insurance Development Forum. This partnership is designed to engage our members in a structured way so that they can bring their capabilities to bear efficiently and effectively.”
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About the Global Shield against Climate Risks
Launched at COP27 by the G7 and V20, the Global Shield against Climate Risks represents a structural shift in disaster risk finance. It supports partner countries in embedding pre-arranged finance within national public financial management systems – strengthening financial architecture, enabling innovation, and ensuring that protection is automatic, accountable, and country-led. By securing funding before disaster strikes, the Global Shield helps prevent climate shocks from escalating into fiscal crises.
Media contacts
Natalia Rankine-Galloway
Marketing and Communications Advisor
n.rankine@fs.de
About the Insurance Development Forum
A unique public–private partnership, the IDF helps close protection gaps so that people, businesses and nations can recover faster from disaster, attract investment and thrive.
Led by industry and co-chaired by the United Nations Development Programme (UNDP) and the World Bank Group, the IDF aligns insurance expertise with public policy and development priorities to drive resilience. It brings together change agents from across sectors to help build future-ready nations. For more information, visit: www.insdevforum.org
Media contacts
Helen Wright
Lysander PR
Michelle Worvell
Lysander PR