17-18 September 2015, Kuala Lumpur, Malaysia
This Global Seminar on Disaster Risk Financing: Developing Effective Approaches to the Financial Management of Disaster Risks, took place in Kuala Lumpur, Malaysia, on 17-18 September 2015.
The seminar was co-hosted by the OECD, ASEAN Insurance Training and Research Institute, Bank Negara Malaysia and the Asian Development Bank, with sponsorship by the Government of Japan. It provided an opportunity to exchange knowledge and practices on disaster risk financing among economies, regional and international organisations, and key stakeholders with the aim of establishing a framework for the development of disaster risk financing strategies and beginning to identify effective approaches. The discussions covered key issues related to fiscal management of disaster risks and the development of insurance and other financial tools to provide financial protection against disaster risks, including:
The seminar was attended by officials and experts from OECD, APEC, ASEAN and other invited economies in Asia and elsewhere, regional and international organisations and the private sector. Participation at this event was by invitation only.
This event was held back-to-back with a 2-day event, hosted by the Asian Development Bank on 15-16 September, in Manila, Philippines: ADB-OECD Forum on Disaster Risk Financing for Inclusive Development.
Recent disasters have prompted Finance Ministers across a wide range of economies, including within the G20, APEC, and ASEAN, to stress the importance of promoting financial resilience against disasters in order to safeguard economic growth and development. The seminar responded to the need for the development of effective approaches that countries can reference in developing policies to manage fiscal risks and support the development of disaster insurance markets.
The OECD plays a leadership role in supporting the development of strategies for the financial management of natural and man-made disaster risks under the guidance of the High-Level Advisory Board of the OECD International Network on Financial Management of Large-scale Catastrophes and the Insurance and Private Pensions Committee.
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