New non-profit Humanity Insured aims to insure 3.6 billion people against climate disasters

Humanity Insured, a new UK and US non-profit organisation, has launched with the mission of empowering vulnerable communities to become more resilient to the impacts of climate change through the use of effective insurance solutions.

Howden, a global insurance intermediary, spearheaded the creation of Humanity Insured, bringing together key players from the insurance sector.

The initiative received initial funding from seven major insurance firms, including Howden, Allianz, Hiscox, The Fidelis Partnership, Tokio Marine Kiln, and Beazley.

With the support of the insurance industry, Humanity Insured aims to secure insurance protection for the 3.6 billion individuals most exposed to the effects of climate change by utilising private and philanthropic funding on a large scale.

In order to achieve its mission, the organisation has also partnered with the Clinton Global Initiative through a 2024 Commitment to Action.

To help create Climate resilience, Humanity Insured will pay a proportion of insurance premiums to the people most threatened by climate change so that they can have an insurance safety net and create financial resilience.

“Insurance protection builds climate resilience by restoring certainty and financing recovery. Through innovative satellite triggered insurance, money gets to where it is needed fast, preventing disasters from becoming crises,” the organisation stated.

Adding: “The certainty that one is financially equipped to manage climate shocks affords self-reliance even before the impact is felt. It generates confidence that enables people to focus on the future, spurring a virtuous cycle of prosperity as people invest in everything from education to climate-resilient farming techniques.”

Humanity Insured goes beyond simple insurance coverage by providing funding to insured communities for resilience tools and training. This, the organisation explained, will empower them to adapt to and manage climate threats that could jeopardise their livelihoods.

Charlie Langdale, Chief Executive of Humanity Insured, said: “Everyone should know the security that insurance brings as that security is what empowers people to invest in their livelihoods.

“This is an essential response in an ever-more volatile world that relies on post-event funding. Humanity Insured will not only stop families adopting negative coping strategies after climate shocks, but by being financially prepared, the most unprotected are able to pre-emptively manage the climate risks they face.”

Delivering on Humanity Insured’s ambition and ensuring independence is a Board of experts in development, finance and climate.

Since receiving UK charitable status in July 2024, Humanity Insured’s Board has approved three grants for communities in East Africa and the Pacific. One involves the UNHCR, the UN Refugee Agency, will fund a portion of the premium for innovative drought insurance for the growing season in Malawi as well as financing a community resilience-building programme that builds the capacity of refugees and local smallholders.

The other two grants went to help One Acre Fund, a social enterprise operating in East Africa, to subsidise an agricultural insurance program for over 200,000 Kenyan smallholders; and to Mama Bank, the first Women’s Micro Bank in the Pacific, to subsidise insurance protection that delivers rapid financial relief to small businesses and farmers impacted by drought.

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