Financial Management of Large-Scale Catastrophes

image of Financial Management of Large-Scale Catastrophes

Dramatic events, such as the earthquake that struck China’s Sichuan Province in 2008 and the devastation caused by Hurricane Katrina in the United States in 2005, have brought the financial management of catastrophic risks once again to the forefront of the public policy agenda globally. To address these issues and develop sound policies, the OECD has established an International Network on the Financial Management of Large-Scale Catastrophes. This publication supports the ongoing activities of the Network.

This book contains three reports focusing on different institutional approaches to the financial management of large-scale catastrophes in selected OECD and non-OECD countries, the role of risk mitigation and insurance in reducing the impact of natural disasters, and the importance of strategic leadership in the management of non-conventional crises.


A New Era of Large-Scale Natural Disasters

This chapter discusses the evolution of insured losses from natural disasters over the past decade, the relationship between insured losses and total economic losses as well as the causes of this increase in damage. What are the key drivers of the sharp increases in both economic and insured catastrophe losses over the past 20 years? How has development in hazard-prone areas and climate change affected recent damages from hurricanes and flooding? What is the prognosis for the future?


This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error