Lagos to host risk insurance workshop

Lagos State Resilience Office (LASRO), in partnership with the Resilient Cities Network, global insurance intermediary group, Howden, and key private sector stakeholders is set to hold the Lagos Water Risk and Insurance workshop in Lagos on Wednesday, 15th, and Thursday, 16th of January, 2025.

Chief Resilience Officer for Lagos State, Dr. Folayinka Dania, who disclosed this at a virtual meeting with stakeholders, explained that the workshop forms part of the 2024 Global Risk and Resilience Fellowship (GRRF), a global initiative designed to help cities manage climate risks by leveraging insurance sector expertise.

“The workshops will bring together public and private sector leaders to explore innovative solutions for prioritising, addressing, and mitigating water-related risks of flooding, scarcity, and infrastructure gaps that Lagos State faces, building on the RWA and Arup’s two years of City Water Resilience Approach (CWRA) work in Lagos aimed at shaping the city’s water resilience strategy.

“The sessions are designed to harness the power of insurance to enhance water resilience and attract much-needed investment in urban water infrastructure.”

According to her, the workshops will focus on strengthening Lagos’ capacity to understand and prioritize water risks, address data gaps, and overcome barriers to investment in water infrastructure.

Attendees will engage in interactive sessions and discussions that explore how insurance tools can support urban resilience and attract private-sector financing. The event will also showcase case studies and insights from global experts on insurance and investment.

She stated that key discussions include innovative insurance solutions like parametric insurance, prioritizing Lagos’ most critical water challenges, identifying strategies to close data gaps, and addressing obstacles to financing water infrastructure projects.