Innovation in Disaster Risk Financing for Developing Countries : Public and Private Contributions

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 c...

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Main Author:	World Bank
Format:	Working Paper
Language:	English en_US
Published:	Washington, DC 2015
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 http://hdl.handle.net/10986/22119

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recordtype	oai_dc
spelling	okr-10986-221192021-04-23T14:04:06Z Innovation in Disaster Risk Financing for Developing Countries : Public and Private Contributions World Bank 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 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. 2015-07-07T21:44:45Z 2015-07-07T21:44:45Z 2011-03 Working Paper http://documents.worldbank.org/curated/en/2015/06/24654947/innovation-disaster-risk-financing-developing-countries-public-private-contributions http://hdl.handle.net/10986/22119 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Publications & Research Publications & Research :: Working Paper
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	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
spellingShingle	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 World Bank Innovation in Disaster Risk Financing for Developing Countries : Public and Private Contributions
description	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.
format	Working Paper
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Innovation in Disaster Risk Financing for Developing Countries : Public and Private Contributions
title_short	Innovation in Disaster Risk Financing for Developing Countries : Public and Private Contributions
title_full	Innovation in Disaster Risk Financing for Developing Countries : Public and Private Contributions
title_fullStr	Innovation in Disaster Risk Financing for Developing Countries : Public and Private Contributions
title_full_unstemmed	Innovation in Disaster Risk Financing for Developing Countries : Public and Private Contributions
title_sort	innovation in disaster risk financing for developing countries : public and private contributions
publisher	Washington, DC
publishDate	2015
url	http://documents.worldbank.org/curated/en/2015/06/24654947/innovation-disaster-risk-financing-developing-countries-public-private-contributions http://hdl.handle.net/10986/22119
_version_	1764450134465183744

Innovation in Disaster Risk Financing for Developing Countries : Public and Private Contributions

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