General Insurance Article - Insurers principles for resilient and sustainable building

Ahead of the upcoming COP26 Summit, the Global Federation of Insurance Associations (GFIA) has today published its key principles for more resilient and sustainable construction.

 The concept of “build and rebuild better” has been in use for several years in the context of reconstruction after physical disasters and is a key component in improving infrastructure and construction resilience, and successfully implementing adaption strategies to address climate risks.

 Given that natural hazards are on the rise, both in terms of frequency and severity, climate adaptation considerations should lie at the very heart of building norms and processes.

 GFIA has therefore identified three key principles for more resilient and sustainable construction:
 • Build in a more resilient way — To avoid recurring disasters, for example, identical reconstruction after a natural disaster should not be the default. Building back better in a more resilient way is a significant building block of integrated disaster risk management.
 • Build with green materials and circularity — Sustainable/recycled products should be used in construction to increase resource efficiency and to develop green infrastructure.
 • Co-finance better resilience — If reconstruction requires resilience improvements that contain new elements and exceed the insurer’s indemnity, for example, complementary funding should be provided by public authorities, for instance in the form of an interest-free bank loan. Furthermore, by making long-term sustainable investments in infrastructure while meeting contractual obligations to policyholders, insurers support both the transition to a low-carbon economy and the availability of insurance protection.

 Key principles for more resilient and sustainable construction.




Back to Index

Similar News to this Story

Cyber underwriters should view GoDaddy attack as a warning
A Single Point of Failure (SPoF) cyber attack such as the one currently affecting web-hosting firm GoDaddy represents one of the most likely ways the
Appetite for credit insurance grows in Western Europe
Trade credit insurer Atradius has published 2021’s annual Payment Practices Barometer Survey Results for Western Europe. Denmark had the highest perc
Managing Agents aim to increase their commitment to Lloyds
Aon have announced the launch of a new report summarizing the findings of its 2021 survey of Lloyd’s managing agents’ Chief Financial Officers.

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS


Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.