Global Health Risk Facility

Data-driven solutions for supply chain challenges

The world is conducting the largest and most expensive vaccination campaign in history. An unprecedented focus on the logistics and risk management of vaccine distribution is essential.

Covid-19 vaccines, like most vaccines, need to be refrigerated as they travel along complex supply chains from factory to syringe. This journey across thousands of miles by air, land and sea can be perilous.

Vaccines
yellow-quotes

We are thrilled to be launching the Global Health Risk Facility at Lloyd’s – a fantastic example of the way in which our global insurance market has come together to deliver an innovative new solution and model for solving complex global risk challenges posed by the pandemic.”

John Neal, CEO, Lloyd's of London

Protecting supply chains to save lives

 

An alliance of insurance and technology partners have formed the Global Health Risk Facility to strengthen supply chains and prepare countries for the distribution of Covid-19 vaccines and other critical diagnostics, treatments and supplies.

By utilizing better data and technology, the GHRF protects both the quality of these life-saving goods as well as the financial investments made to supply them.

Supply Chains Boat

Risk sharing for a safer world

The GHRF is anchored by Parsyl’s Syndicate 1796, which was designed to insure the storage and transportation of Covid-19 vaccines and other life-saving health products to developing countries.

The syndicate operates at Lloyd’s of London, the world’s specialist insurance marketplace where members join together to underwrite complex risks. Syndicate 1796 is the first public-private syndicate created to address a global health emergency in Lloyd’s 330 year history.

1796

The Syndicate has been given the number ‘1796’ in honor of the year physician Edward Jenner carried out his first experiments in what would become the smallpox vaccine, the world’s first vaccine and the only disease the world has ever eradicated through vaccination.

Global Health Risk Facility at

Lloyds
Syndicate 1796

Reinsured by

Convex
Canopius
Hamilton
Renaissance Re

Ascot
Axa
Chubb
Talbot
QBE
Tokio Marine KILN
Aegis
Beazly
Syndicate 1796

Insured by


Ascot
Axa
Chubb
Talbot
QBE
Tokio Marine KILN
Aegis
Beazly

Reinsured by

Convex
Canopius
Hamilton
Renaissance Re

 

 

Risk Management Accelerator

A critical feature of the insurance platform is the Risk Management Accelerator, which provides funding and services to enable eligible GHRF clients to access better data and risk mitigation solutions.

The RMA funds a range of services, including surveys of storage locations, supply chain risk evaluations and technology enabled data collection.

Eligibility & Coverage

Eligible Insureds

Geographies

Covered Products

Coverage

Limits

Eligible Insureds

  • Private manufacturers
  • Ministries of Health
  • Public health agencies
  • Procurement agents
  • Logistics companies
  • Local market insurers (via reinsurance)

Geographies

The GHRF is ready to address the unique and immediate risks of distribution to and within Low- to Upper Middle-Income countries* and also supports distribution to High Income countries as part of a broad portfolio approach.

* According to 2020 World Bank country income classifications

Covered Products

All products related to Covid-19 and any other existing infectious disease control and prevention programs. Including but not limited to:

  • Vaccines
  • Diagnostics
  • Treatment therapies
  • PPE
  • Ancillary machinery and equipment related to global health supply chains (e.g. the delivery of cold chain equipment, cold rooms, backup gensets, etc)

Coverage

  • ‘All Risk’ cargo coverage for transit and/or storage. Covers theft, loss, or damage, including loss due to temperature
  • Primary or contingent
  • Global supply chains and in-country distribution
  • Insurance and reinsurance

Limits

$20M per one loss and annual aggregate for storage.
Options available for higher limits on an excess basis if required

Every Journey Matters.

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