The Landscape of Climate and Disaster Risk Insurance (CDRI)

• by Ishita Sharma and Manoj Pandey
• Dec 17, 2020
• 1 min
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MSC, with support from GIZ, conducted a landscape study to understand the status of climate and disaster risk insurance in South and Southeast Asia and Oceania. This report provides recommendations to help policymakers and financial service providers mitigate and manage losses incurred in the aftermath of disasters.

Data from countries in Asia, South Asia, and the Pacific suggests that disasters caused losses worth USD 140 billion in the past decade. Of these, only USD 20 billion, or a mere 14.2% were insured across all sectors. While countries have well-defined disaster response and management frameworks, risk transfer through insurance needs systematic adoption. MSC, with support from GIZ, conducted a landscape study to understand the status of climate and disaster risk insurance in South and Southeast Asia and Oceania. Our report provides recommendations for policymakers and financial service providers to mitigate and manage disaster-induced losses.