Innovation in Disaster Risk Financing for Developing Countries

This report aims to advance the dialogue on creative, forward-looking solutions for developing countries by presenting recent innovations on disaster risk financing and insurance developed by the private markets as well as the international donor community, from the macro (government) level down to the micro (household) level. It discusses how these innovations can be adapted and implemented in developing countries to better protect efficiently those countries against the financial consequences of natural disasters. Section one provides an introduction to the economic and fiscal impacts of natural disasters on developing countries. Section two examines examples of innovation in the private insurance and capital markets that may have applications in sovereign disaster risk financing for developing countries. Section three examines how innovations coming out of mature property catastrophe risk insurance (PCRI) markets could serve in low and middle-income countries. Section four considers how innovation is taking seed in creative disaster micro insurance programs in low- and middle-income countries. Section five wraps up the report with brief concluding remarks.

Bibliographic Details

Main Author:	World Bank
Format:	Working Paper biblioteca
Language:	English en_US
Published:	Washington, DC 2011-03
Subjects:	FLOODING, CATASTROPHIC EVENTS, RISKS, STORM, PRODUCT LIABILITY, TYPE OF DISASTER, ATTACHMENT POINT, RISK REDUCTION, FARMER, WIND SPEED, INTEREST, LIFE INSURANCE, SYNDICATES, SUSTAINABILITY, DELIVERY MECHANISM, INSURER, PROGRAMS, CATASTROPHE COVERAGE, INFORMATION, ENTREPRENEURS, NATURAL CATASTROPHES, HEALTH CARE, REINSURANCE PREMIUMS, INSURANCE POLICIES, FACULTATIVE REINSURANCE, LOSS RATIO, PRIVATE REINSURANCE, PRICING, DISASTER, PRIVATE INSURANCE, DAMAGES, EMERGENCY RELIEF, DISASTER PREVENTION, NEGOTIATION, INSURANCE RISK, INFLATION, EARTHQUAKES, HURRICANES, CATASTROPHES, INSURANCE COMPANY, POLICYHOLDERS, CATASTROPHIC EVENT, DISASTER RELIEF, REINSURERS, SAVINGS, CATASTROPHE REINSURANCE, RELIEF, DISASTER EMERGENCIES, NATURAL DISASTER, DISASTER MITIGATION, MORAL HAZARD, INSURANCE MARKETS, FLOODS, SURFACE TEMPERATURES, EMERGENCIES, NATURAL DISASTERS, MARKETS, SURFACE TEMPERATURE, TYPHOON, RATES, DISASTERS, INSURERS, FIRE, HUMANITARIAN ASSISTANCE, FARMERS, RISK SHARING, RESERVES, REINSURANCE MARKETS, INSURANCE COVERAGE, RISK ANALYSES, INSURED LOSSES, BROKERS, CONTINGENT LIABILITY, MITIGATION MEASURES, FLOOD INSURANCE, TECHNOLOGY, REINSURANCE, DROUGHTS, EMERGENCY, EARTHQUAKE, DISASTER RECONSTRUCTION, FOOD SECURITY, SEA SURFACE TEMPERATURE, DISASTER REDUCTION, CHEMICALS, DISASTER RISK, CLIMATE CHANGE, DROUGHT, NON-LIFE INSURANCE, INSURANCE PRODUCTS, CATASTROPHIC LOSS, LOSSES, BANK, APPLICATIONS, CREDIT, EXTREME EVENTS, INSURANCE CONTRACTS, AGRICULTURAL INSURANCE, CAPTIVE INSURANCE, MICROINSURANCE, CLAIMS, DECLARATION, VICTIMS, RISK EXPOSURE, DAMAGE, NATURAL CATASTROPHE, INSURANCE CONTRACT, DISASTER INSURANCE, INDEMNITIES, VULNERABILITY TO DISASTERS, DEVASTATION, INSURANCE PREMIUM, FLOOD, MARKET RISK, REGULATION, RISK TRANSFER, SECURITIES, SOLVENCY, CREDIT RISK, INSURANCE, LOSS, INSURANCE BENEFITS, AGENTS, INSURABILITY, RISK INSURANCE, DISASTER AID, WAR, HURRICANE, RISK, MITIGATION, INDEMNITY, WIND SPEEDS, BUILDING CODES, DISASTER RISKS, FATALITIES, UNDERWRITING, DISASTER RISK REDUCTION, ATLANTIC HURRICANE, RISK MANAGEMENT, INSURANCE INDUSTRIES, INTERNATIONAL STRATEGY FOR DISASTER REDUCTION, FINANCIAL RISK, INSURANCE COMPANIES, AFLATOXINS, WEATHER EVENTS, RISK MANAGERS, SEA SURFACE TEMPERATURES, SAFETY, BASIS RISK, COVERAGE, RISK ASSESSMENTS, NATURAL HAZARDS, REINSURANCE COMPANIES, PRICES, RISK ASSESSMENT, COST OF CAPITAL, REINSURER, RISK MITIGATION, RISK ANALYSIS, PREMIUMS,
Online Access:	http://documents.worldbank.org/curated/en/2015/06/24654947/innovation-disaster-risk-financing-developing-countries-public-private-contributions https://hdl.handle.net/10986/22119
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