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.