Insurance Australia Group (IAG) launched a new natural disaster management instrument at the Global Insurance Forum in New York, the Global Risk Map. This interactive map shows the social and economic impact of cyclones, floods, earthquakes and related disasters during the past 115 years.
It focuses on areas that are most susceptible to be affected by disasters, taking into account their social conditions and resilience as well as insurance information, which is the biggest novelty according to IAG. This map is included in the IAG-led Global Resilience Project, a three-step commitment to the UN Principles of Sustainable Insurance (PSI).
According to Leona Murphy, IAG’s chief strategy officer, this interactive tool will help in to mitigate disaster owing to its in-depth study of vulnerable areas and “by forming a strategic global partnership under the PSI, insurers and reinsurers across the globe can continue to work with governments and local communities to elevate the importance of prevention and resilience”.