Disaster risk financing


The effective financial management of disaster risks is a key public policy challenge for governments around the world, particularly those faced with significant exposures to such risks and/or limited capacity to manage the financial impacts of natural and/or man-made disasters, such as floods, earthquakes, cyclones, terrorist attacks, industrial and technological accidents, and pandemics (amongst others).

Under the guidance of the High-Level Advisory Board of Large-scale Catastrophe Risk and the OECD Insurance and Private Pensions Committee, the OECD supports the development of strategies for the financial management of natural and man-made disaster risks through the development of guidance and analysis and the sharing of experience and best practices through meetings and seminars.


High Level Advisory Board of Large-scale Catastrophe Risks

The High-Level Advisory Board is composed of experts from governments, the private sector and academia, playing a leading role in advising, identifying and discussing the major policy issues related to the financial management of large-scale catastrophes. The High Level Advisory Board met for the first time in 2006.



Mr. Sergio Álvarez Camiña, General Manager of the Consorcio de Compensación de Seguros, Spain

Mr. Werner Bugl, Member of International Advisory Board of Russian Reinsurance Company and Director for Business Development, Asia Capital Reinsurance Group (ACR), Singapore

Mr. Julian A.P.  Enoizi, Chief Executive Officer, Pool Reinsurance Co Ltd, United Kingdom

Prof. Peter Hoeppe, Head, Department of Geo Risks Research, Munich Reinsurance Company AG

Mr. Rubem Hofliger Topete, Latin American Regulatory Officer, Swiss Re, Mexico

Prof. Howard Kunreuther, James G. Dinan Professor of Decision Sciences & Public Policy, and Co-Director, Center for Risk Management and Decision Processes OPIM Dept., The Wharton School, United States

Mr. Andrew Maskrey, Chief of the Risk Knowledge Section and Coordinator of the United Nations Global Assessment Report on Disaster Risk Reduction (GAR), United Nations Office for Disaster Risk Reduction (UNISDR)

Mr. Ivo Menzinger, Managing Director, Global Partnerships, Head Asia and Emerging Markets Strategies, Swiss Re

Dr. Erwann Michel-Kerjan (Chair), Managing Director, Center for Risk Management and Decision Processes OPIM Dept., The Wharton School, United States and Chair of the Board

Prof. Alberto Monti, Full Professor of Comparative Law, Institute for Advanced Study IUSS Pavia, Italy

Dr. Robert Muir-Wood, Chief Research Officer, Risk Management Solutions (RMS), Inc., United Kingdom and Vice-Chair of the Board

Mr. Alfonso Nájera Ibáñez, Deputy Director of Studies and International Relations, Consorcio de Compensación de Seguros, Spain

Mr. Frank Nutter, President, Reinsurance Association of America, United States

Prof. Norio Okada, Professor, School of Policy Studies, Kwansei Gakuin University and Director, Institute for Research of Disaster Area Reconstruction, Kwansei Gakuin University, Japan

Ms. Élisabeth Rousseau, Secretary General, GAREAT, France

Prof. Peijun Shi, Vice President of Beijing Normal University, Professor of Geography (Disaster and Public Security), China

Dr. Milan Simic, Managing Director, AIR Worldwide Corporation, United States

Dr. Christopher Wallace, Chief Executive Officer, Australian Reinsurance Pool Corporation (ARPC)

Prof. Semih Yucemen, Head, Department of Earthquake Studies, Middle East Technical University, Turkey

Prof. Richard Zeckhauser, Frank Plumpton Ramsey Professor of Political Economy, Harvard University, United States


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Disaster risk financing: A global survey of practices and challenges, 2015

Financial instruments for managing disaster risks related to climate change, 2015 

Disaster Risk Financing in APEC Economies, 2013

G20/OECD methodological framework on disaster risk assessment and risk financing, 2012

Risk awareness, capital markets and catastrophic risks, 2011

Good practices for the mitigation and financial management of catastrophic risks, 2010 

Policy Handbook on Natural Hazard Awareness and Disaster Risk Reduction, 2009

Financial Management of Large-scale Catastrophes, OECD (2008) 

Terrorism Risk Insurance in OECD Countries
OECD (2005) 

Catastrophic Risks and Insurance, OECD (2005) 

Large-scale Disasters: Lessons Learned, 2004

Keeping schools safe in earthquakes, 2004

Environmental risks and insurance, OECD (2003) 

Insurance and Expanding Systemic Risks
OECD (2003) 

Emerging Risks in the 21st Century: An Agenda for Action, 2003


OECD Conference on the financial management of flood risk (12-13 May 2016, Paris)

IPPC Special Session on Climate Change and the Insurance sector, 4 December 2015, Paris 

Global Seminar on Disaster Risk Financing, 17-18 September 2015, Kuala Lumpur

3rd International Meeting on Terrorism Risk Insurance, 10 September 2014, Washington D.C.

2nd International Meeting on Terrorism Risk Insurance, 2012, Paris

High-Level Roundtable on the Financial Management of Earthquakes, 2011, Paris

1st Conference on Terrorism Risk Insurance, 2010, Paris

2009 Conference on the Financial Management of Large-scale Catastrophes, Bangkok

2007 Conference on the Financial Management of Large-scale Catastrophes, Hyderabad

2004 Conference on Catastrophic Risks and Insurance, Paris


For further information
Please contact:
Mr. Leigh Wolfrom



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