The Flood Insurance for Target Cities in Argentina (FITCA) project aims to mitigate flood impacts in Argentine cities through a public-private partnership that offers parametric insurance. This innovative insurance model provides rapid payouts based on predefined flood-related triggers, facilitating swift assistance to vulnerable populations. In its initial phase, the project gathered data from five cities to develop and refine the product. ICMIF member Grupo Asegurador La Segunda, a local cooperative insurer, plays a pivotal role by managing risk, providing essential data, liaising with regulatory bodies, and coordinating with stakeholders. The project employs advanced GIS and hydrological modelling techniques to accurately determine insurance payouts. With successful implementation, FITCA plans to expand to more regions, potentially inspiring similar initiatives globally and contributing significantly to disaster risk management and community resilience in Argentina. 

Floods are among the most devastating natural disasters, wreaking havoc on communities, economies, and infrastructures. In Argentina, several cities are particularly vulnerable to flooding, which poses a significant threat to the socio-economic stability of the affected regions. The Flood Insurance for Target Cities in Argentina (FITCA) project aims to mitigate the socio-economic impacts of floods by introducing a parametric insurance product. This product is designed to provide immediate assistance to affected populations, particularly targeting the poor and vulnerable groups who are often the hardest hit during such disasters…