The Start Network, an international network of non-governmental humanitarian organisations, is partnering with the Insurance Development Forum (IDF) on the creation of a new financial service for the humanitarian sector, with parametric triggers and risk pooling at its heart.

Named Start Ready, the new humanitarian funding paradigm is designed to help communities to get ahead of escalating climate risks, through the provision of pre-agreed funding at scale for relatively predictable crises like droughts, flooding and heatwaves.

Start Ready will be based on locally led action and intelligence, but uses insurance and reinsurance market techniques such as risk analysis, parametric triggers and risk pooling, alongside collective planning, and pre-positioned financing to anticipate and respond to climate risk related needs around the world.

FULL ORIGINAL PUBLICATION HERE

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