Paper: Risk Transfer and Insurance: Towards Building Community Resilience

Paper details

Paper authors Vishal Pathak
In panel on Urban Preparedness and Resilience
Paper presenter(s) will be presenting In-Person / Online

Abstract

Risk transfer and insurance are becoming important in the discussion about urban resilience. The urban disaster plans need to have the aspects of disaster mitigation and preparedness. Preparedness also includes putting the vulnerable in the best position to recover quickly from disaster shocks. Well targeted insurance for recovery from disaster is important. It requires a national effort by state policymakers and regulators, implementing local authorities and the private sector as a provider. Risk transfer and insurance have been accepted as one of the convincing risk mitigation tools to cope with the adverse effects of climate change to vulnerable groups, especially women among the poor. The practitioners have explored a number of innovative insurance products to cover the risks.

The paper will be based on AIDMI’s efforts through pilots, knowledge management, policy support and capacity development around risk transfer and insurance for poor and vulnerable communities. The efforts are aligned with the local implementation of the SFDRR (Sendai Framework for Disaster Risk Reduction) and SDGs (Sustainable Development Goals). The joint efforts have been made with the stakeholder engagement including insurance company, Community Based Organisations, local communities and government authorities. The paper will be developed by the individuals involved in the disaster insurance efforts.

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