Samoa : Disaster Risk Financing and Insurance

In 2012 Tropical Cyclone (TC) Evan offered a distressing reminder of Samoa s exposure to natural hazards. TC Evan came only three years after the earthquake and tsunami of 2009, which affected 2.5 percent of the country s population, causing 143 fa...

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Main Author:	World Bank
Format:	Report
Language:	English en_US
Published:	Washington, DC 2015
Subjects:	DISASTER REDUCTION DISASTER RELIEF DISASTER RISK FINANCING AND INSURANCE DRFI EMERGENCY RESPONSE EXTREME WEATHER
Online Access:	http://documents.worldbank.org/curated/en/2015/02/24158033/samoa-country-note http://hdl.handle.net/10986/21694

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recordtype	oai_dc
spelling	okr-10986-216942021-04-23T14:04:04Z Samoa : Disaster Risk Financing and Insurance World Bank DISASTER REDUCTION DISASTER RELIEF DISASTER RISK FINANCING AND INSURANCE DRFI EMERGENCY RESPONSE EXTREME WEATHER In 2012 Tropical Cyclone (TC) Evan offered a distressing reminder of Samoa s exposure to natural hazards. TC Evan came only three years after the earthquake and tsunami of 2009, which affected 2.5 percent of the country s population, causing 143 fatalities and associated economic losses equivalent to 20 percent of gross domestic product (GDP). The economic growth of Samoa has been impacted in the past few years by two major disasters: the tsunami in 2009 and TC Evan in 2012. Growth was also impacted by the global financial crisis. Overall GDP contracted by 5.1 percent following the tsunami in 2009, but it has gradually increased in subsequent years. Following TC Evan, real GDP declined by 0.4 percent. Growth in GDP rebounded to 2.2 percent in 2013/14 as the reconstruction program commenced (World Bank 2014). Samoa is expected to incur, on average over the long term, about SAT 23 million (US$10 million) per year in losses due to earthquakes and tropical cyclones. In the next 50 years, Samoa has a 50 percent chance of experiencing a loss exceeding SAT 255 million (US$110 million) and a 10 percent chance of experiencing a loss exceeding SAT 812 million (US$350 million) (PCRAFI, Country Risk Profile). 2015-04-06T22:30:57Z 2015-04-06T22:30:57Z 2015-02 Report http://documents.worldbank.org/curated/en/2015/02/24158033/samoa-country-note http://hdl.handle.net/10986/21694 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work Economic & Sector Work :: Policy Note East Asia and Pacific Samoa
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	DISASTER REDUCTION DISASTER RELIEF DISASTER RISK FINANCING AND INSURANCE DRFI EMERGENCY RESPONSE EXTREME WEATHER
spellingShingle	DISASTER REDUCTION DISASTER RELIEF DISASTER RISK FINANCING AND INSURANCE DRFI EMERGENCY RESPONSE EXTREME WEATHER World Bank Samoa : Disaster Risk Financing and Insurance
geographic_facet	East Asia and Pacific Samoa
description	In 2012 Tropical Cyclone (TC) Evan offered a distressing reminder of Samoa s exposure to natural hazards. TC Evan came only three years after the earthquake and tsunami of 2009, which affected 2.5 percent of the country s population, causing 143 fatalities and associated economic losses equivalent to 20 percent of gross domestic product (GDP). The economic growth of Samoa has been impacted in the past few years by two major disasters: the tsunami in 2009 and TC Evan in 2012. Growth was also impacted by the global financial crisis. Overall GDP contracted by 5.1 percent following the tsunami in 2009, but it has gradually increased in subsequent years. Following TC Evan, real GDP declined by 0.4 percent. Growth in GDP rebounded to 2.2 percent in 2013/14 as the reconstruction program commenced (World Bank 2014). Samoa is expected to incur, on average over the long term, about SAT 23 million (US$10 million) per year in losses due to earthquakes and tropical cyclones. In the next 50 years, Samoa has a 50 percent chance of experiencing a loss exceeding SAT 255 million (US$110 million) and a 10 percent chance of experiencing a loss exceeding SAT 812 million (US$350 million) (PCRAFI, Country Risk Profile).
format	Report
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Samoa : Disaster Risk Financing and Insurance
title_short	Samoa : Disaster Risk Financing and Insurance
title_full	Samoa : Disaster Risk Financing and Insurance
title_fullStr	Samoa : Disaster Risk Financing and Insurance
title_full_unstemmed	Samoa : Disaster Risk Financing and Insurance
title_sort	samoa : disaster risk financing and insurance
publisher	Washington, DC
publishDate	2015
url	http://documents.worldbank.org/curated/en/2015/02/24158033/samoa-country-note http://hdl.handle.net/10986/21694
_version_	1764449001047851008

Samoa : Disaster Risk Financing and Insurance

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