Natural Catastrophe Risk Insurance Mechanisms: For Asia and the Pacific: Main Report

Abstract

Natural catastrophes are a major threat to sustainable development, especially in Asia and the Pacific. ADB’s developing member countries are particularly vulnerable. Catastrophe risk could be transferred through a regional public–private insurance partnership. This is the key finding of the Asian Development Bank Conference on Natural Catastrophe Risk Insurance Mechanisms for Asia and the Pacific held in Tokyo in November 2008. This report answers questions about disaster risk management and shows how ADB can ease access to catastrophe risk transfer mechanisms. It also suggests that a regional approach is an appropriate mechanism to bridge existing gaps and to unlock resources needed to better manage risk.