UNDP Co-Chairs the Insurance Development Forum because we believe that insurance can be a powerful tool in changing the opportunities and lives of millions of people. More than 90% of the economic costs of disasters are currently uninsured in the developing world, meaning that when disaster strikes, millions of people lose their jobs and their homes with no compensation and no chance to rebuild their lives. Closing this “protection gap” would help ensure that hard won progress is truly sustainable in the long run.
Achim Steiner, Administrator United Nations Development Programme
26th January, 2019