The international community recognizes that risk transfer and sharing should be a central part of disaster risk management efforts. However, the institutional and regulatory requirements for a functioning insurance and reinsurance market are demanding and far from satisfied in Asia Pacific at present. Although the insurance sector is very active in many countries in the region, insurance penetration under commercial or government insurance schemes is low, and catastrophe insurance is non existent outside of Japan.
|Project Name||Natural Catastrophe Risk Insurance Mechanisms for the Asia and Pacific Region|
|Project Type / Modality of Assistance||Technical Assistance
|Source of Funding / Amount||
|Strategic Agendas||Environmentally sustainable growth
Inclusive economic growth
|Drivers of Change||Private sector development
|Sector / Subsector||
Finance - Insurance and contractual savings
|Gender Equity and Mainstreaming||No gender elements|
|Description||The international community recognizes that risk transfer and sharing should be a central part of disaster risk management efforts. However, the institutional and regulatory requirements for a functioning insurance and reinsurance market are demanding and far from satisfied in Asia Pacific at present. Although the insurance sector is very active in many countries in the region, insurance penetration under commercial or government insurance schemes is low, and catastrophe insurance is non existent outside of Japan.|
|Project Rationale and Linkage to Country/Regional Strategy|
|Impact||Strengthened financial resilience of participating developing member countries (DMCs) against the economic effects of selected natural disasters|
|Description of Outcome||A consensus on forward action to implement conference and workshop conclusions|
|Progress Toward Outcome|
|Description of Project Outputs||
1. Conference and workshop logistical arrangements
2. Preconference technical papers
3. Conference and workshop outcome documents
4. Conference and workshop participants have a heightened understanding of issues surrounding catastrophe insurance and risk pooling
|Status of Implementation Progress (Outputs, Activities, and Issues)|
|Geographical Location||Asia and Pacific|
Summary of Environmental and Social Aspects
|Stakeholder Communication, Participation, and Consultation|
|During Project Design|
|During Project Implementation|
|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.|
|Responsible ADB Officer||Britton, Neil R.|
|Responsible ADB Department||Sustainable Development and Climate Change Department|
|Responsible ADB Division||SDGG|
Asian Development Bank
6 ADB Avenue,
Mandaluyong City 1550, Philippines
|Concept Clearance||08 Apr 2008|
|Fact Finding||01 Apr 2008 to 31 May 2008|
|Approval||06 Aug 2008|
|Last Review Mission||-|
|PDS Creation Date||08 May 2008|
|Last PDS Update||20 Oct 2010|
|Approval||Signing Date||Effectivity Date||Closing|
|06 Aug 2008||-||06 Aug 2008||31 Mar 2009||31 Dec 2011||-|
|Financing Plan/TA Utilization||Cumulative Disbursements|
|800,000.00||0.00||0.00||0.00||0.00||0.00||800,000.00||06 Aug 2008||764,720.32|
Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
The Public Communications Policy (PCP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.
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|Title||Document Type||Document Date|
|Natural Catastrophe Risk Insurance Mechanisms for the Asia and Pacific Region||TA Completion Reports||Oct 2012|
|Natural Catastrophe Risk Insurance Mechanisms for the Asia and Pacific Region (Financed by the Japan Special Fund)||Technical Assistance Reports||Aug 2008|
Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.
None currently available.
Evaluation Documents See also: Independent Evaluation
None currently available.
None currently available.
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