Landscape study of climate and disaster risk insurance in Asia

• Mar 22, 2021
• 1 min

In light of the growing scale and number of disaster events in Asia driven by climate change, MSC undertook an analysis of the status of climate and disaster risk insurance (CDRI) across 22 countries in South and Southeast Asia.

Driving the adoption of climate and disaster risk insurance products across the globe is a persistent challenge for international development agencies. Due to its size, location, and numerous countries with low socio-demographic indicators, and complex financial markets, Asia poses the greatest challenge. Climate change has already exacerbated the number and scale of disaster events in Asia. Hence, stakeholders need to understand the current landscape of CDRI products and work toward scaling up its adoption.

Against this background, MSC undertook an analysis of the status of climate and disaster risk insurance (CDRI) across 22 countries in South and Southeast Asia. We collaborated with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) and the Regulatory Framework Promotion of Pro-Poor Insurance Markets in Asia (RFPI-Asia). MSC undertook robust secondary research on the existing policy and regulatory environments around CDRI and existing CDRI solutions at the macro, meso, and micro levels. The findings were further complemented with key informant interviews across Bangladesh, Indonesia, the Philippines, and Vietnam.