Mechanisms for financing the costs of disasters

Linnerooth-Bayer, J., Hochrainer-Stigler, S., & Mechler, R. ORCID: https://orcid.org/0000-0003-2239-1578 (2012). Mechanisms for financing the costs of disasters. Commissioned Review: Foresight, Government Office for Science, UK (27 November 2012)

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Abstract

This paper provides an overview of disaster risk financing mechanisms, both traditional instruments that share the costs of disastrous events after they happen and ex ante instruments, some innovative, that contractually transfer risks before the events occur. The focus is on developing countries and the most vulnerable within those countries. As recent novel instruments, we describe index-based insurance for farmers and herders, national insurance programs, sovereign instruments for governments and regional risk insurance pools. We present evidence on their benefits, costs and risks, and, finally, address the question: What financial-protection actions could be taken in the next ten years that might reduce the negative impact of disasters occurring up to 2040?

Item Type:	Other
Research Programs:	Risk, Policy and Vulnerability (RPV) Risk & Resilience (RISK)
Bibliographic Reference:	Commissioned Review: Foresight, Government Office for Science, UK (27 November 2012)
Depositing User:	IIASA Import
Date Deposited:	15 Jan 2016 08:47
Last Modified:	27 Aug 2021 17:22
URI:	https://pure.iiasa.ac.at/10135

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