Natural Catastrophe Risk Insurance Mechanisms for Asia and the Pacific

Natural catastrophes are a major threat to sustainable development, especially in Asia and the Pacific. The developing member countries of the Asian Development Bank (ADB) are particularly vulnerable. Catastrophe risk could be transferred through a regional public-private insurance partnership. This is the key finding of the ADB Conference on Natural Catastrophe Risk Insurance Mechanisms for Asia and the Pacific held in Tokyo in November 2008. This report answers questions on disaster risk management and how ADB can ease access to catastrophe risk transfer mechanisms. It suggests a regional approach as an appropriate mechanism to unlock resources needed to better manage risk.