Closing climate coverage gaps for U.S. charity

Case Study

3 minutes

04 September 2025

The Miami Foundation is a charity based in Miami, Florida.

It is dedicated to serving vulnerable and disadvantaged communities in South Florida.

One part of its mission is providing disaster recovery aid after a hurricane through its Disaster Resilience Fund.  

Satellite imagery of a storm

The challenge

A major tropical storm hitting the Miami area risked being catastrophic – and surpassing the money raised for the Fund.  

The Foundation wanted an affordable, low-risk option to increase their insurance cover and multiply the fund’s capacities in case of a weather disaster.  

But this solution had to provide immediate financial support following catastrophic events, to ensure a swift recovery and minimise disruptions to the communities they serve. 

Action

To help them achieve this, the Howden team: 

  • Explored innovative insurance options, working alongside the Foundation and its local partners, including Miami-Dade County and the City of Miami
  • Examined current protection gaps and recovery plans 
  • Developed a suite of innovative insurance concepts to address and reduce their vulnerability to climate-related risks – and close cover gaps 
  • Identified the right coverage and best terms available, working within their budget and other constraints 
  • Placed a parametric insurance policy (since renewed), strengthening the Foundation’s mission to provide swift and targeted aid 

Result

Augmenting their Disaster Relief Fund with parametric cover provided the Foundation with: 

Immediate financial support and payouts

Available for recovery efforts issued within days of a triggering event.

Reduced administrative burden

Achieved through a simple parametric policy, offering easy claims processes and minimal documentation.

Improved resilience through closing cover gaps

And ensuring continuity and operational stability in the face of climate-related risks. 

What's next?

The Miami Foundation’s trailblazing efforts to use parametric insurance in the local philanthropic space has gained attention across the U.S. and beyond. It’s also inspiring similar organisations to test and deploy risk transfer solutions novel to their sector. 

What can we do for you?

We'll help you understand your climate risks, build resilience, and use insurance solutions to de-risk your future.

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