💨 Abstract

South Africa is exploring parametric flood insurance for high-risk cities to speed up disaster payouts and reduce the diversion of funds from essential services. This type of insurance triggers automatic payments upon events like extreme rainfall, eliminating the need for damage assessments. The National Treasury, in collaboration with the World Bank and AXA Climate, aims to integrate this approach into South Africa’s disaster risk management strategy.

Courtesy: Sundeeka Mungroo