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Dramatic events, such as the earthquake that struck China’s Sichuan Province in 2008 and the devastation caused by Hurricane Katrina in the United States in 2005, have brought the financial management of catastrophic risks once again to the forefront of the public policy agenda globally.

Are governments in developed and emerging countries adopting efficient strategies to manage the increasing financial burden of catastrophes? What are the roles and responsibilities of key stakeholders in the public and private sectors in the management of disaster risks and costs? How can all parties best prepare for the unprecedented challenges posed by large-scale risks?

To address these issues and develop sound policies, the OECD has established an International Network on the Financial Management of Large-Scale Catastrophes. Under the guidance and intellectual leadership of a High-Level Advisory Board, the Network promotes the exchange of information and experiences among policymakers, industry, and academia in OECD and non-member countries.

This publication supports the ongoing activities of the Network. It contains three reports focusing on: different institutional approaches to the financial management of large-scale catastrophes in selected OECD and non-OECD countries, the role of risk mitigation and insurance in reducing the impact of natural disasters, and the importance of strategic leadership in the management of non-conventional crises.