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Disaster Risk Financing

A global survey of practices and challenges

image of Disaster Risk Financing

The publication provides an overview of the disaster risk assessment and financing practices of a broad range of economies relative to guidance elaborated in G20/OECD Framework for Disaster Risk Assessment and Risk Financing. The publications is based on survey responses provided by 29 economies, as well as research undertaken by the OECD and other international organisations, and provides a global overview of the approaches that economies facing various levels of disaster risk and economic development have taken to managing the financial impacts of natural and man-made catastrophes.

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Private disaster risk financing tools and markets and the need for financial preparedness

This chapter provides an overview of the disaster risk financing tools available to households and businesses in surveyed economies and approaches to improving disaster insurance coverage, including public awareness initiatives and efforts to ensure the resilience of the financial system. An overview of the disaster risk financing tools available and the contribution of such tools to the financial management of disaster risks is provided along with an overview of public support for disaster insurance, including regulatory measures, subsidies, investments in risk reduction, public (re)insurance facilities and guarantees as well as targeted approaches to supporting financial protection among vulnerable populations. Efforts to ensure the resilience of the financial sector to disaster risks, including the capacity to efficiently settle claims in the event of a disaster, and to improve public awareness of disaster risk and the need for financial protection are described. The chapter concludes with a discussion of common implementation challenges to ensuring comprehensive financial protection against disaster risk.

English

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