Examples of Insurance Facility in a sentence
Facility Amounts shall be retained in the Security Trust Account(s) and, before the Insurance Facility First Closing Date, shall be used on a revolving basis for the purpose of providing new Insurance Contracts under the Insurance Facility.
To do so we will learn from and build on already existing risk insurance facilities such as the African Risk Capacity, the Caribbean Catastrophe Risk Insurance Facility and other efforts to develop insurance solutions and markets in vulnerable regions, including in small islands developing states, Africa, Asia and Pacific, Latin America and the Caribbean as set out in the annex.
Thus far, interventions range from contribution to financing of the Caribbean Catastrophe Risk Insurance Facility (CCRIF), to rebuilding damaged infrastructure resulting from high winds, storm surges and flooding.
The objective of the Project is to help provide a better mechanism for dealing with catastrophic risks in the Southeast and Central Europe region by supporting the establishment of the Catastrophe Risk Insurance Facility, which will aim at increasing the number of individuals and small and medium enterprises insured by the private insurance market for catastrophic risks in said regions.
Leaders considered the concept of a Pacific Island Climate Change Insurance Facility (PICCIF) to cover the impacts of Climate Change and noted a taskforce would be established to further elaborate it.
This provides a natural role for reinsurance companies, derivative markets and the emerging Global Index Insurance Facility (GIIF) in supporting local microfinance schemes aimed at integrating risk sharing and risk reduction, whether through pure market approaches orwith donor and NGO support.
Mr Chairman, we commend the Bank for its leading role in developing innovative financing facilities to address global shocks such as the Pandemics Emergency Financing Facility for pandemics, the Global Concessional Financing Facility for refugees and the Catastrophe Risk Insurance Facility to provide insurance against natural disasters.
A Category 1 hurricane impacting Grenada is projected by the Caribbean Catastrophe Risk Insurance Facility to occur once every twelve years.
Financial instruments to transfer or share climate related-risks (the African Risk Capacity and the Caribbean Catastrophe Risk Insurance Facility) can also be better designed through financial and technical collaboration between public and private sectors.
Regional approaches are often set up as regional risk pools like the African Risk Capacity (ARC), the Caribbean Catastrophe Risk Insurance Facility (CCRIF) or the Pacific Catastrophe Risk Assessment and Financing Initiative (PCRAFI).50%18 of CVF countries are engaged or member to a regional financial instrument (Fig.