Lloyd’s in partnership for climate disaster risks

Lloyd’s Charities Trust has launched a new disaster resilience partnership with Habitat for Humanity, as part of the insurance marketplace’s ongoing response to communities around the world placed at risk by climate change.

Lloyd’s expertise in natural hazard risk modelling and mapping will be used to help develop new tools and models, and in particular, its advice on flood risk reduction strategies will enable the most vulnerable communities to build capacity and successfully tackle flood threats.

The new partnership includes funding from Lloyd’s for a project in Malawi’s Chikwawa District that was affected by severe flooding and devastation from Cyclone Idai in March. This will provide access to community rescue hubs for more than 20,000 individuals; giving local families access to training sessions and materials to ‘disaster proof’ their homes. The rescue hubs will also function as emergency shelters for up to 36 families.

Vicky Carter, chairman of Global Capital Solutions, International, at Guy Carpenter and trustee of Lloyd’s Charities Trust, added: “Sharing risk is central to the work of the (re)insurance sector and the Lloyd’s market. This is an incredibly exciting partnership for us as the charity responsible for driving disaster resilience initiatives on behalf of the market. With a wealth of knowledge and intelligence in our market around climate related risks and mitigation to share, it is a natural fit for us to partner with Habitat for Humanity to build the resilience and coping capabilities of the most vulnerable communities.”

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