Southeast Europe Catastrophe Risk Insurance Facility, Phase II

Projet terminé

The Southeast Europe Catastrophe Risk Insurance Facility (henceforth, the facility) aims at addressing the problem of low private catastrophe risk insurance penetration in Albania, Bosnia and Herzegowina, Macedonia as well as Serbia. The facility was launched by the World Bank Group and is implemented by Europa Re, a private implementing agency.

Pays/région Période Budget
Albanie
Bosnie et Herzégovine
Macédoine
Serbie
31.05.2015 - 31.05.2018
CHF 3'949'575
Contexte Countries of Southeastern Europe (SEE) are highly vulnerable to natural hazards while the governments in the region have extremely limited financial capacity to assist their populations in regaining assets and productive capacity destroyed by natural disasters. Moreover, private catastrophe insurance and weather risk coverage among homeowners, small and medium size businesses (SMEs) and farmers is currently almost non-existent in the region.
Objectifs The overall goal of the programme is to enhance the catastrophe risk insurance penetration in the Southeast Europe region and increasing access to affordable weather risk coverage and catastrophe risk insurance in the region. This ultimately enables private insurance markets to become an important conduit for catastrophe risk transfer and thus ease the pressure on governments’ budgets when large-scale weather-related disasters occur.
Effets à moyen terme Reinsurance capacity and know-how is provided to local insurance companies.New catastrophe risk insurance products become available to farmers, homeowners, and SMEs.Financial sustainability of the facility is reached by the end of 2018.The public perception towards private catastrophe risk insurance solutions has changed.Governments and and insurance regulators have been supported with a view to enact regulatory and policy reform conducive to the development of catastrophe and weather insurance markets.
Résultats

Principaux résultats attendus:   Reinsuarnce capacity is expanded to Bosnia and Herzegowina.Catastrophe risk insurance products have been developed for Bosnia and Herzegowina.Catastrophe risk products have been updated for the Albania, Macedonia as well as Serbia. New distribution channels have been put in place.Consumer education tools are developed and updated.Regulatory assistance has been provided.


Principaux résultats antérieurs:   Europa Re has been established as a Swiss licensed reinsurer (as of December 2014).Innovative catastrophe insurance products have been developed and introduced in Albania, Macedonia as well as Serbia thanks to SECO's support.A modern insurance infrastructure, including a claims management systems and web-based insurance production platform, has been developed.State-of-the art risk-based insurance supervision tools and manuals have been prepared.A free interactive consumer education portal (CatMonitor) has been developed and went live.


Direction/office fédéral responsable SECO
Crédit Coopération avec l'Europe de l'Est
Partenaire de projet Partenaire contractuel
  • Banque Mondiale - Banque internationale pour la reconstruction et le développement


Budget Phase en cours Budget de la Suisse CHF   3'949'575 Budget suisse déjà attribué CHF   0 Budget y compris partenaires de projet CHF   31'540'000
Phases du projet

Phase 10 31.05.2015 - 31.05.2018   (Completed)