Global Communities, DLA Piper, Hannover Re and Willis Towers Watson Team Up to Promote Resilience for Vulnerable Communities Exposed to Weather and Climate-related Risks

Global Communities, DLA Piper, Hannover Re and Willis Towers Watson Team Up to Promote Resilience for Vulnerable Communities Exposed to Weather and Climate-related Risks

July 11th, 2018, Berlin, Germany — Global Communities, DLA Piper, Hannover Re and Willis Towers Watson announced today that they are partnering to promote resilience for communities that are susceptible to weather-related risks. The partnership will jointly apply to KfW, the German government-owned development bank’s, InsuResilience Solutions Fund to enable insurance solutions for municipalities in Colombia that are among the most vulnerable and exposed to natural hazards.

While national frameworks for disaster risk management and climate change adaptation exist, capacity at the local government and community levels to implement these frameworks is limited, especially regarding the use of risk financing solutions.

Our partnership brings together Global Communities, a recognized leader in international development, humanitarian response and community engagement, and the insurance industry to empower municipalities and communities in identifying and mitigating risks using qualitative and quantitative tools embedded within a community-led approach. Through the use of risk modeling tools from the (re)insurance industry, we can strengthen the understanding of municipalities and their citizens of the financial impacts of their specific risk exposure. This will allow communities to prioritize and implement risk reduction strategies and recovery plans based on accurate information. Municipalities themselves will be able to analyze, develop and strengthen guidelines, mechanisms and public investment in risk management and financing, as well as adaptation to climate change.  By building trust, awareness and capacity, municipalities will be able to better formulate their risk tolerance and make decisions on risk transfer solutions. We believe that insurance, as part of an integrated set of actions to reduce risk, can help protect communities from permanent damage caused by catastrophic weather and climate- related disasters, supporting quicker and better recovery, stronger cohesion, and ultimately greater resilience.

Our partnership is excited about this opportunity to collaborate with KfW to implement our approach in Colombia, apply lessons learned to other countries around the world, building a “portfolio of cities” that are able to incorporate insurance solutions into their disaster risk planning with the goal of enhancing their resilience.
About Global CommunitiesGlobal Communities is an international development and humanitarian response organization founded in 1952 that works closely with communities worldwide to bring about sustainable changes that improve the lives and livelihoods of the vulnerable. Learn more at www.globalcommunities.org
About DLA PiperDLA Piper is one of the top 5 international law firms, with representation in over 30 countries.  It has one of the leading insurance transactional, regulatory and disputes practices and also provides a full complement of general business advisory services. Learn more at www.dlapiper.com.

About Hannover ReHannover Re, with gross premium of EUR 17.8 billion, is the fourth-largest reinsurer in the world. Established in 1966, the Hannover Re Group today has a network of more than 140 subsidiaries, branches and representative offices worldwide. It transacts all lines of property & casualty and life & health reinsurance and hence plays a major role in diversifying risks globally and promoting continued growth and recovery of global and national economies. Learn more at www.hannover-re.com.

About Willis Towers WatsonWillis Towers Watson is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. We deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Learn more at www.willistowerswatson.com.