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Europe and Central Asia - Swiss Seco for South East and Central Europe Catastrophe Risk Insurance Facility Trust Fund Project : restructuring (English)

The objective of the Swiss Seco for South East and Central Europe Catastrophe Risk Insurance Facility Trust Fund Project is to help provide a better mechanism for dealing with catastrophic risks in the Southeast and Central Europe region by supporting the establishment of the Catastrophe Risk Insurance Facility (CRIF), which will aim at increasing the number of individuals and small and medium enterprises insured by the private insurance market for catastrophic risks in said region. The additional technical preparatory work is required for the launch of innovative catastrophe insurance products in the four countries of Southeast Europe (Serbia, Macedonia, Albania, Bosnia and Herzegovina) currently covered by the grant, which may include Montenegro at a later stage. The main elements of this work include development of risk models for weather-related hazards, regulatory work in support of new products, and acquisition of weather data and weather stations. The amendments to the grant agreement primarily address the changes in the trust fund amount, the added activities and related procurement changes, as well as an extension of the closing date to February 28, 2015 so as to allow the completion of the additional activities.

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Europe and Central Asia - Swiss Seco for South East and Central Europe Catastrophe Risk Insurance Facility Trust Fund Project : restructuring (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/459461468254091058/Europe-and-Central-Asia-Swiss-Seco-for-South-East-and-Central-Europe-Catastrophe-Risk-Insurance-Facility-Trust-Fund-Project-restructuring