A group of over 85 insurers in Africa has pledged to create a financing facility to provide $14-billion of cover to help the continent’s most vulnerable communities deal with climate disaster risks such as floods and droughts. The commitment to create the African Climate Risk Facility (ACRF) was made on Wednesday during the COP27 climate talks comes as developing countries push their richer peers to do more to help them pay for the costs of responding to such events.