In a recent move by the International Federation of the Red Cross, law firm Reed Smith has been enlisted to set up an insurance and reinsurance facility. The aim is to use this facility as a means of providing additional financial support to their disaster response actions. Law.com reports.
Providing advice on various aspects including structure, finance, trust, insurance, and sanctions, Reed Smith worked cooperatively with Aon and the Centre for Disaster Protection to establish this tool. It is expected to act as a back-stop for the Red Cross’s Disaster Response Emergency Fund.
More information is available for those interested, however, note that the article is behind a paywall.