Disaster Risk Facility
Protecting those most impacted by climate change
The Disaster Risk Facility (DRF), launched in 2015 seeks to close protection gaps for the countries and communities around the world most impacted by disasters. This may include countries where insurance has traditionally been unaffordable or doesn’t exist at all.
The consortium, made up of five Lloyd’s syndicates engages with governments, municipalities, and multilateral organisations around the world and is peril agnostic in its support for vulnerable communities, implementing pre-arranged risk financing to reduce the cost, impact and recovery time following a disaster by ensuring financial support reaches those who need it most.
.png)
“In a world experiencing climate change, population growth, and economic and geopolitical uncertainty, the risk environment is the highest we’ve faced in a generation.Panayotis Koulovasilopoulos, Chair of the Lloyd’s Disaster Risk Facility and Senior Underwriter Hiscox
“As an industry we must continue to push the boundaries of how we apply our expertise, investing in product innovation, with the objective of closing the insurance protection gap and therefore contributing to societal and economic resilience against an ever-changing universe of risks.”
Recent projects
Our risk transfer partnership with the International Federation of the Red Cross Disaster Response Emergency Fund (DREF)
In 2023, together with Aon and the Centre for Disaster Protection, The Lloyd’s Disaster Risk Facility launched a new insurance mechanism to support the International Federation of Red Cross and Red Crescent Societies’ (IFRC) Disaster Response Emergency Fund (DREF).
Parametric cyclone insurance in Northern Australia
The Disaster Risk Facility supported the development of a retail parametric cyclone insurance produce in Northern Australia, called ‘Redicova’ (pronounced ‘ready cover’).
Supporting the United Nations Children’s Fund (UNICEF)
Find out how the facility has supported the United Nations Children’s Fund (UNICEF).
Contact us
Please contact us for more information or to discuss a new opportunity with the Lloyd’s Disaster Risk Facility.
