Two Proposals for Ambitious 2021 Reforms
Coping with Compound Shocks
Developing countries and small economies are facing the prospect of more frequent and devastating compound shocks, defined as multiple disruptive events including natural disasters, economic and financial crises, and pandemics striking simultaneously or in rapid sequence. In 2020, Bangladesh, Fiji, Honduras, India, the Philippines, Mexico, Nicaragua, and 11 countries in the Sahel faced combinations of the COVID-19 pandemic; economic shocks associated with the pandemic and measures to contain it; and extreme weather events, including drought, floods, and/or hurricanes, that were exacerbated by climate change.
Compound shocks are more devastating than isolated shocks, for several reasons. First, they stretch health care delivery, social safety nets, and disaster response systems too thin, making effective relief and response difficult or impossible. Second, they can leave reserve funds and public budgets dangerousl
Disaster risk and readiness for insurance solutions in Small Island Developing States
Format
New InsuRisk report analyzes disaster risk and readiness for insurance solutions in Small Island Developing States
The InsuResilience Global Partnership is the world premier global coordination forum on disaster finance and climate risk insurance. The annual Partnership Forum acts as a convening space for decision makers, implementing organizations, private sector, academia and civil society to reflect, share and learn how societies can better prepare for future risks.
The new InsuRisk special report focuses on Small Island Developing States (SIDS). In addition to slow-onset events, such as sea-level rise, these states are confronted with serious challenges associated with climate-related extreme events and natural hazards. Risk financing and risk transfer measures can help manage these challenges, but for each country the likelihood of their adoption depends on the presence of a variety