Rapid Onset Natural Disasters: The Role of Financing in Effective Risk Management

The authors provide a conceptual framework for designing a comprehensive risk management strategy for rapid onset natural disasters at the country level, with a particular emphasis on the role of catastrophe loss funding. The authors discuss the ke...

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Bibliographic Details
Main Authors:	Gurenko, Eugene, Lester, Rodney
Format:	Policy Research Working Paper
Language:	English en_US
Published:	World Bank, Washington, D.C. 2013
Subjects:	ACCOUNTING ANALYTICAL APPROACH BONDS CANCER CATASTROPHE LOSS CATASTROPHES CATASTROPHIC RISKS CONCEPTUAL FRAMEWORK CONSUMERS CONTINGENT LIABILITIES CONTRACTUAL SAVINGS COST OF CAPITAL DEBT DEVELOPED COUNTRIES DISASTER ASSISTANCE DISASTER INFORMATION DISASTER MITIGATION DISASTER PRONE COUNTRIES DISASTER RECONSTRUCTION DISASTER RELIEF DISASTER RESPONSE DISASTERS EARTHQUAKES ECONOMIC ACTIVITY ECONOMIC CONSEQUENCES ECONOMIC GROWTH ECONOMIC IMPACT ECONOMIC INCENTIVES EMERGING MARKETS EXCHANGE RATES EXPENDITURES FLOOD INSURANCE FLOOD PRONE AREAS FLOOD VICTIMS FLOODING FLOODS HEALTH SERVICES HOUSING INCOME INFLATION INSURANCE INSURANCE COMPANIES INSURANCE COVERAGE INSURANCE MARKETS INSURANCE POOLS INSURANCE PREMIUMS INSURANCE PRODUCTS INSURANCE SYSTEM INSURANCE SYSTEMS INSURERS LAWS LEGISLATION MANDATES MARKET INSTRUMENTS MARKET RISK MARKET RISK MANAGEMENT MARKET VALUE MITIGATION MEASURES MULTILATERAL DEVELOPMENT BANKS NATURAL DISASTERS NATURAL HAZARDS PENALTIES POLICYHOLDERS POLITICAL ECONOMY PRIVATE INSURANCE PRIVATE INSURANCE COMPANIES PRIVATE REINSURANCE PROGRAMS PROPERTY RIGHTS PUBLIC SERVICES RATES REINSURANCE REINSURANCE COMPANIES REINSURANCE MARKETS REINSURERS RELIEF RESERVES RESOURCE ALLOCATION RETIREMENT RISK ANALYSIS RISK ASSESSMENT RISK MANAGEMENT RISK MEASUREMENT RISK MITIGATION RISK PREMIUM RISK REDUCTION RISK TRANSFER SAFETY TECHNICAL ASSISTANCE TENTS TERRORISM UNDERWRITING URBAN DEVELOPMENT VOLCANIC ERUPTIONS NATURAL DISASTERS RISK ECONOMIES
Online Access:	http://documents.worldbank.org/curated/en/2004/04/3546324/rapid-onset-natural-disasters-role-financing-effective-risk-management http://hdl.handle.net/10986/14296

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Summary:	The authors provide a conceptual framework for designing a comprehensive risk management strategy for rapid onset natural disasters at the country level, with a particular emphasis on the role of catastrophe loss funding. The authors discuss the key policy and technical issues involved in building financially sustainable catastrophe risk transfer and funding programs in disaster prone countries and their links to risk mitigation. They also deal with the cognitive and political economy issues that are likely to arise and ways to accommodate them.

Rapid Onset Natural Disasters: The Role of Financing in Effective Risk Management

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