The Bank of Cape Verde published an account of its July 1 conference on the insurance sector’s role in managing climate-related risks. Discussions focused on developing or improving insurance products for climate hazards and potentially creating instruments under which the state and insurers share responsibility for losses from adverse climate events. Participants reviewed international regulatory practices, domestic market challenges and the supervisory implications of a changing climate. Portugal’s Insurance and Pension Funds Supervisory Authority also presented its proposed Natural and Seismic Catastrophe Fund as a potential solution for major catastrophic risks in the Portuguese market.
Bank of Cape Verde2026-08-07
Bank of Cape Verde reviews insurance solutions and shared-risk instruments for climate hazards
The Bank of Cape Verde reviewed how insurance products and shared-risk instruments could strengthen protection against climate-related losses. Discussions covered international regulatory practices, domestic market challenges and the potential allocation of responsibility between the state and insurers.