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Natural Catastrophe Risk Insurance Mechanisms for the Asia and Pacific Region

The conference and workshops will look at options for financing natural disaster losses, evaluate current risk pooling mechanisms and review lessons learnt, identify what Asian and Pacific governments want from catastrophe insurance and what the needs of insurers are to enter such markets, identify issues pertaining to relevant data and trigger mechanisms, determine key organizational and administrative elements related to the management of catastrophe risk mechanisms in the Asia-Pacific region, and explore the special needs of Asia's megacities and the Pacific Islands.

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The two principal objectives of the ADB in sponsoring this conference and workshops are:

• Alert member countries to the potential for new catastrophe risk pooling opportunities
• Hear the views of member countries on how such risk transfer vehicles could be most helpful to them in the context of their own risk management institutions

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The expected outcome is the development of a consensus on forward action by governmental, private sector, and development partners to implement conference and workshop conclusions concerning the pooling of DMC risk in catastrophe insurance schemes, which could lead to the development of an ADB action plan for catastrophe insurance. A key output will be a publication comprising technical papers

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Participation is by invitation only to

• ADB client countries
• Regional insurers and reinsurers
• Insurance brokers
• Financial institutions
• Development partners
• Multilateral development banks
• Specialist research institutes

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Speakers are expected to come from: ADB; AIR Worldwide; Aon; Benfield Group; Bloomberg; Caribbean Catastrophe Risk Insurance Facility (CCIRF); JLT; General Assurance Assoc Japan; IFC; Governments of Cayman Islands, India, Indonesia, People? Republic of China and Philippines; Guy Carpenter; International Institute for Applied Systems Analysis (IIASA); Mitsui Sumitomo; Risk Management Solutions (RMS); SOPAC; Swiss Re; Munich Re; and World Bank