Program Overview - EUROPA RE

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Can new countries still join Europa Re? World Bank Group • The Facility is open to any country of Europe interested in increasing the level of insurance market penetration for catastrophe risk and weather insurance products. • The Bank stands ready to provide the necessary financial and technical assistance for joining the Facility to the following countries: • Montenegro • Bosnia and Herzegovina • The following countries expressed preliminary interest in utilizing Facility’s services: • Poland (started discussions) • Slovakia (preliminary discussions)
What are the benefits for Europa Re country shareholders? World Bank Group • Europa Re will reduce the countries fiscal risk exposure to natural disasters through: • Expanded private insurance coverage of homeowners, SMEs and farmers • Coverage of government own assets • Insurance coverage of government own social obligations to socially vulnerable segments of population exposed to natural disasters • Participation in the program will jump-start the development of national catastrophe and weather risk insurance market through the creation of country specific risk models, regulations, pricing and actuarial guidelines, installation of automated weather stations, and creation of new insurance products. • The program will pave the way for introduction of Solvency II in member states as it will assist local regulators in introducing risk-based regulatory framework for catastrophe risk.
Page 1 and 2: First Regional Europa Re Insurance
Page 3 and 4: Main objective of Europa Re Program
Page 5 and 6: Main applications of parametric ins
Page 7 and 8: Buyers of weather risk protection I
Page 9 and 10: Buyers of weather risk protection I
Page 11 and 12: Establishment and capitalization of
Page 13 and 14: Operational management World Bank G
Page 15 and 16: Government disaster risk financing
Page 17: Enrollment of insurance companies a

Program Overview - EUROPA RE

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