Cases / Insurance, liability and compensation funds · Peru · 2019
Peru to receive US$60 million from Pacific Alliance catastrophe bond after Loreto quake
Short record: the main facts, with sources. A full case file has not been prepared.
Nature's voice · report
No measurement of the harm done to me here is on record.
Did nature suffer? Not measured.
Not on record
- The record does not name which of my species, waters, soils or forests were harmed.
A magnitude 8.0 earthquake in Loreto triggered a US$60 million payout to Peru from a Pacific Alliance catastrophe bond, according to the finance ministry. The sources reviewed do not describe any conservation use of the money.
What?
A magnitude 8.0 earthquake in Loreto triggered a US$60 million payout to Peru from a Pacific Alliance catastrophe bond. Ministerio de Economía y Finanzas (MEF) Perú
Where?
Loreto region, Peru Ministerio de Economía y Finanzas (MEF) Perú
When?
July 2019; the MEF announced the payout on 6 July 2019 Ministerio de Economía y Finanzas (MEF) Perú
Who?
Gained
- Government of Peru — Receives US$60 million, which the MEF said would go to FONDES Ministerio de Economía y Finanzas (MEF) Perú
Lost
None on recordHarmed
None on recordWhy?
Not stated in the sources reviewed.
How?
The bond paid out when the earthquake met its trigger; the MEF said the funds were to go to FONDES. Ministerio de Economía y Finanzas (MEF) Perú
6 of 6 questions answered from the record
What happened
The record, in order.
The Peruvian Ministry of Economy and Finance (MEF) said Peru would receive US$60 million from catastrophe insurance taken out under the Pacific Alliance framework.
The payout was triggered by a magnitude 8.0 earthquake in Loreto, which set off 30 per cent of a US$200 million bond, according to the MEF.
In court and with insurers
Every proceeding and every insurer decision on record.
Lawsuits and rulings
No court case on record. No court has ruled on this case.
Insurers
No insurer decision on record.
What we don't know
Undisclosed, unproven, untried: recorded as data.
Nature
- Not measured Harm to nature: The record holds no measurement of harm to nature.
Record
- None on record Not stated in the sources reviewed: how the FONDES funds were used, or any link to nature conservation.
Did the harm stop?
Not stated in the sources reviewed.
Who paid?
Not stated in the sources reviewed.
Sources
Voices on record: — Company or project— Government and regulators— Courts✓ Press and investigations— Communities and civil society— Researchers
Press and investigations
- Perú recibirá US 60 millones del seguro catastrófico contratado en el marco de la Alianza del PacíficoMinisterio de Economía y Finanzas (MEF) Perú · 2019-07-06