Lloyd's announced a new pioneering disaster resilience vehicle, in partnership with the United Nations Capital Development Fund (UNCDF) and Aon to deliver disaster risk financing to Small Island Developing States (SIDS) in the Pacific.
Supported by members of Lloyd’s Disaster Risk Facility, the Global Disaster Resilience Vehicle (GDVR) will enhance recovery and resilience, utilising the global reinsurance market as a capacity provider. The vehicle will leverage donor funds committed to the region and utilise local networks to provide exposure-based payments directly to climate-vulnerable communities.
Initially covering Fiji, Papua New Guinea and Samoa, the vehicle will respond to disasters caused by natural perils including tropical cyclone, earthquake, tsunami and flood – with the long-term aim of scaling and replicating the vehicle throughout the Pacific region as well as the Caribbean, Asia and Africa.
Read the press release 
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