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Enhancing the Financial Protection Against Catastrophe Risks : The Role of Catastrophe Risk Programmes The financial management of catastrophe risks presents an important public policy challenge for governments across the world. Climate change, the increasing reliance on digital technologies and socioeconomic trends such as globalisation and urbanisation are affecting the frequency and severity of the floods, cyclones, cyber-attacks and infectious disease outbreaks that produce significant financial, economic and social costs each year. The report examines the role of catastrophe risk insurance programmes in broadening the availability of affordable insurance coverage for catastrophe risks and limiting risks to public finances. OECD guidance on disaster risk financing strategies 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. With these considerations in mind, the OECD has adopted a Recommendation on Disaster Risk Financing Strategies that provides guidance on the development of strategies for the financial management of disaster risks.
OECD work on disaster risk financingUnder the guidance of the High-Level Advisory Board on the Financial Management of Catastrophic Risks 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. OECD-ADB joint report on tech innovation for disaster risk management and financing
DOCUMENTS AND LINKS Financial Management of Earthquake Risk, 2018 Financial Management of Flood Risk, 2016 Disaster risk financing: A global survey of practices and challenges, 2015 Financial instruments for managing disaster risks related to climate change, 2015
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MEETINGS OECD-ADBI-ADBC Workshop on Developing the elements of a disaster risk financing strategy in Asia, 8-9 May 2018, Bangkok , 24 June 2016, Tokyo OECD Conference on the financial management of flood risk, 12-13 May 2016, Paris Contact Mr. Leigh Wolfrom
The OECD’s Insurance and Private Pensions Committee (IPPC) organised a high-level roundtable that gathered stakeholders to share experience and identify solutions to address financial protection gaps for disaster risks – a summary of that discussion is available here: OECD IPPC High-Level Protection Gaps Roundtable - summary of discussions
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