Urban Infrastructure Insurance Facility (UIIF)
Supporting Latin American and Caribbean cities cope with natural disasters.
Aims
Climate change is worsening the impacts of natural disasters on urban areas. To respond to these disasters, the Urban Infrastructure Insurance Facility (UIIF) supports ten Latin American and Caribbean cities to acquire tailored insurance mechanisms that provide rapid access to financial resources.
These products cover critical infrastructure and residents most vulnerable to the impacts of such disasters, ultimately safeguarding the cities’ functions and people’s quality of life.
Project support
By 2025, UIIF aims to develop tailor-made insurance coverage worth 100 million euros that covers at least 7.5 million people. Through the facility, the participating local governments will be provided the following support:
- More affordable insurance coverage than cities could acquire on their own
- Climate-disaster risk transferred to the private sector
- Balance sheets are relieved from directly covering losses after natural disasters
- More owned resources to rebuild critical infrastructure and support the most vulnerable residents
- Legal and technical support
- Greater understanding of the risks to critical infrastructure and residents who are more vulnerable to climate impacts
- Opportunity of establishing long-lasting relationships with financial institutions and banks
- Reputation as urban insurance pioneer in Latin America and the Caribbean
The project is financed by KfW Development Bank on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ) and implemented by ICLEI – Local Governments for Sustainability.
Are you interested?
We invite cities from Central America and South America to join the project. For more information please contact uiif@iclei.org