‌‌Large-scale natural and human-induced disasters have generated over USD 1.5 trillion in economic damages over the last decade in OECD and BRIC countries. Single events have exceeded damages worth 20% of annual GDP. Resilience of OECD countries is particularly challenged during times of economic downturns, above all in countries that rely on state budgets for post-disaster loss financing.


A shift in risk governance is required as governance obstacles hamper the effectiveness of current risk reduction investments. The report urges governments to address widespread disincentives that persist for governmental and also non-governmental risk management actors, leading to an over-reliance on the government for post-disaster risk financing.

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