Fletcher: Insurance companies will step in when disaster response resources are insufficient
New York, November 2 (Hibya) - United Nations (UN) Emergency Relief Coordinator Tom Fletcher announced the launch of a new insurance mechanism that will provide additional funding when humanitarian aid resources prove insufficient during disasters. The initiative, developed in cooperation with UNICEF and the World Food Programme (WFP), aims to provide financial protection before disasters occur.
United Nations (UN) Emergency Relief Coordinator Fletcher announced the introduction of a new insurance mechanism designed to provide additional funding when humanitarian needs exceed available resources during disasters.
In a statement shared on his social media account, Fletcher said that under the mechanism, described as the first of its kind in the world, insurance companies would step in to provide additional financing if needs exceed existing resources following disasters.
The initiative, developed jointly with the United Nations Children's Fund (UNICEF) and the World Food Programme (WFP), aims to establish a financial framework to protect people before the severe consequences of disasters materialize.
Fletcher stated that the new mechanism would help generate additional resources to strengthen humanitarian response capacity against disasters.
British News Agency
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