Donors can buy insurance which will kick in once the IFRC's disaster response emergency fund's allocated funding for natural hazards hits 33 million Swiss francs ($37.14 million).
The policy will provide up to 20 million Swiss francs in extra funding to replenish the IFRC's reserves, it said in a statement.
The insurance is supported by international donors including the UK Foreign, Commonwealth and Development Office, the British Red Cross, Danish Red Cross and the private sector, the IFRC said.
"Strategic partnerships with the private sector are essential to address rising humanitarian needs and the humanitarian funding gap," IFRC Secretary General Jagan Chapagain said in the statement.
"We have a responsibility to respond rapidly and at scale, in the most effective and sustainable manner and to ensure that our actions are locally led and community centred."
The policy is led by syndicates in the Lloyd's of London market and broker Aon.
($1 = 0.8886 Swiss francs)
(Reporting by Carolyn Cohn; Editing by Tomasz Janowski)