Advancing Disaster Risk Financing and Insurance in ASEAN Member States: Framework and Options for Implementation
This report is a first collaborative effort to present a comprehensive body of knowledge on the state of disaster risk financing and insurance in ASEAN Member States and share examples of best practice and lessons from international experience. It is part of a project being jointly conducted by the World Bank, the Global Facility for Disaster Reduction and Recovery (GFDRR), the ASEAN Secretariat, and UNISDR to promote the development of national and regional disaster risk financing and insurance strategies in ASEAN Member States within the context of the broader disaster risk management agenda. This report aims to contribute towards a strengthened understanding and collective knowledge within the ASEAN region on disaster risk financing and insurance, and to encourage open dialogue between stakeholders on how strategies can best be developed to increase financial resilience against natural disasters. Disaster risk financing and insurance has gained increased attention among policy makers. Finance Ministers in the ASEAN region highlighted the importance of regional cooperation on disaster risk financing and insurance at the ASEAN Finance Ministers’ Meeting in Bali in April 2011. They agreed that a regional disaster risk financing and insurance strategy is essential to deal with natural disasters. They reiterated this statement at the 14th ASEAN+3 Finance Ministers’ Meeting in Viet Nam in May 2011.