- Project Impact
-
The conference will explore the viability and implications of catatrophe insurance for Asia and the Pacific, and identify areas that could lead to the establishment of national and/or subregional insurance pooling mechanisms. While the Pacific region experiences a wide range of extreme hazards, its governments have not paid attention to hedging against disasters largely because insurance has been either unavailable or prohibitively expensive, and when disasters occur there has been a willingness on the part of donors to provide post-disaster funding. However, the likelihood of more frequent and more severe hazard impacts (especially cimate related events) mean that risk transfer options now have to be considered more seriously. Similarly, the rapid urbanization of Asia's population has created an unprecedented growth of megacities. Almost all of these megacities are in hazard-prone locations. A disaster impacting a megacity will inevitably have severe and prolonged negative effects for national and regional poverty reduction efforts and sustainable growth.
- Project Outcome
-
The conference and workshops are expected to (i) identify broad issues pertaining to the organization and administration of risk pooling facilities, (ii) pave the way for establishing a private-public sector platform to develop regional catastrophe risk insurance; and (iii) produce an expression of interest from Asia-Pacific nations to further analyse the issue.
- Project Outputs
-
The conference and associated workshops will (i) look at options for financing natural catastrophe losses; (ii) evaluate current risk pooling mechanisms and review lessons learnt; (iii) identify what governments expect from catastrophe insurance and what the needs of the insurers are to enter such markets; (iv) identify issues pertaining to relevant data and trigger mechanisms; (v) determine key organizational and administrative elements pertaining to the management of catastrophe risk mechanisms in the Asia-Pacific region; and (vi) explore specific issues pertaining to (a) megacities and (b) the Pacific.
- Consulting Services
-
The proposed technical assistance will require approximately 14 person-months of international and 6 person-months of domestic consultant inputs. Experts will be engaged for short-term assignments.
- Project Processing Stage
-
|
Approved by the Bank
|
:
|
6 August 2008
|
- Recruitment of Consultants
-
Recruitment of consultants will likely take place in August 2008.
- Project Officer
-
Neil R. Britton (632-5066)
- Capacity Development and Governance Division
- nbritton@adb.org
|
Opportunities 
Top of page