Re/insurers and the protection of World Heritage Sites
Many World Heritage Sites are exposed to natural hazards such as floods, earthquakes and storms, as well as to fire and other man-made risks. Yet cultural heritage is often underinsured, because its value is hard to measure and owners are frequently public bodies with tight budgets.
Collaborations between leading insurers, reinsurers and international organizations have explored how risk-transfer expertise could help. Ideas include shared risk assessments, catastrophe modeling for heritage locations and pooled or parametric covers that release funds quickly after a disaster.
Beyond financing, the industry's risk-engineering knowledge can support prevention, from fire protection to flood defenses, helping preserve sites that cannot be replaced.