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Titel hier. presented by. John Doe. Date here. SOUTH AFRICAN INSURANCE ASSOCIATION. Community Risk Project. Project aims to develop a replicable model for the establishment of sustainable, community based resources throughout South Africa to provide:

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  1. Titelhier presented by John Doe Date here SOUTH AFRICAN INSURANCE ASSOCIATION

  2. Community Risk Project Project aims to develop a replicable model for the establishment of sustainable, community based resources throughout South Africa to provide: • Risk management advice on environmental risks • Access to appropriate and affordable Risk Mitigation products • A mechanism to reduce the overall risk profile to assist in economic development. • A knowledge base of environmental risk factors • Development of appropriate risk mitigation practices by stakeholders in low income communities. • Employment creation opportunities within participating communities.

  3. Community Risk Project Ultimate goal: • Implementation of a National Risk Pool for poor and vulnerable communities within a PPP framework

  4. Why are we doing this • The short-term insurance industry as a sector has had difficulty in addressing the financial risk requirements of individuals in low income communities. Consequently the potential insurance capacity for these emerging markets has remained largely untapped. • By their very nature and history, these low income communities are particularly vulnerable to environmental risks, including risks arising from potential climate change. • The project aims to provide a mechanism to better understand the risk dynamics of these communities and to facilitate the sustainable development of risk mitigation practices and structures.

  5. How is project impacted by climate risk • Most low income communities have been developed on or near to economically marginal land. • Major environmental risks: • Fire • Storm • Flood • Lack of adequate infrastructure: • Population density • Lack of storm water infrastructure • Lack of adequate planning procedures

  6. Progress made • A framework for a three year pilot project has been developed and a preliminary costing established based on a roll-out to 8 low income communities. • Grant funding of R1,4m (ex VAT) over the 3 year term of the project has been recommended by the SAIA Social & Environmental Board Committee for final approval by the SAIA board. • An application has been made to the Jobs Fund for joint funding but this has been unsuccessful.

  7. Next steps and future support • Reconfirmation of Insurance Industry support. • Re-sizing of project proposal in accordance with Insurance industry plus external funding. • Development of fully defined project plan for consideration of SAIA Environmental and Social board committee. • Identification of potential stakeholder involvement and development of recommended stakeholder framework.

  8. Titel hier presented by John Doe Date here Thank you!

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