Zurich Insurance Group announced a 21 million Swiss Francs five-year alliance with the International Federation of Red Cross and Red Crescent Societies or IFRC. The five-year commitment would serve as the foundation of Zurich's global flood resilience program, that aims in improving community flood resilience by finding innovative ways to increase the impact of disaster risk reduction efforts at the community, national and global levels. The first country program would happen in Mexico.
The company has committed to this major flood resilience program, as floods affect more people worldwide than any other type of natural disaster and are responsible for some of the largest economic, social, humanitarian and insured losses.
Zurich's flood resilience program would focus on developing and disseminating knowledge and expertise on flood resilience, as well as impact the local level via. strategic long-term alliances with the public sector, NGOs, private sector organizations and academia, and also would look at the contribution insurance can make when it comes to flood risk.
In order to maximize the program's community impact, Zurich has committed to a long-term strategic alliance on flood disaster risk reduction with the IFRC. Together with the IFRC, Zurich would enhance community flood resilience through the development and application of innovative disaster risk reduction solutions.
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