Disaster Risk Financing and Insurance in Sub-Saharan Africa : Review and Options for Consideration

This policy note is a preliminary effort to present a body of knowledge on the state of disaster risk financing and insurance in Sub-Saharan Africa. It aims to contribute to a strengthened understanding and collective knowledge within Sub-Saharan A...

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Bibliographic Details
Main Author:	World Bank
Format:	Policy Note
Language:	English en_US
Published:	Washington, DC 2017
Subjects:	ACCESS TO INSURANCE ACCIDENT AGRICULTURAL BANKS AGRICULTURAL INSURANCE AGRICULTURAL INSURANCE SCHEME AGRICULTURAL INSURANCE SCHEMES AGRICULTURAL PRODUCTION ALLOCATION ASSURANCE BANKS BASIS RISK BUILDING CODES CATASTROPHES CATASTROPHIC EVENTS CATASTROPHIC LOSSES CLIMATE CLIMATE CHANGE CLIMATE RISK MANAGEMENT CONSUMERS CONTINGENCY PLANNING CONTINGENCY PLANS CONTINGENT LIABILITIES CONTINGENT LIABILITY COST BENEFIT ANALYSIS COST OF INSURANCE COST OF INSURANCE PREMIUMS COST-BENEFIT COST-BENEFIT ANALYSIS COVERAGE CREDIT RISK CROP INSURANCE CYCLONES DEATH TOLL DEBT DECLARATION DECLARATIONS DISASTER DISASTER AID DISASTER ASSISTANCE DISASTER EVENT DISASTER EVENTS DISASTER FINANCING DISASTER MANAGEMENT DISASTER PREPAREDNESS DISASTER RECOVERY DISASTER REDUCTION DISASTER RELIEF DISASTER RESPONSE DISASTER RISK DISASTER RISK FINANCING DISASTER RISK REDUCTION DISASTER RISKS DISEASE OUTBREAK DONOR COMMUNITY DRAWN DOWN DROUGHT DROUGHT INSURANCE DROUGHTS EARLY WARNING EARLY WARNING SYSTEMS EARTHQUAKE EARTHQUAKES ECONOMIC ACTIVITY ECONOMIC DEPENDENCE ECONOMIC IMPACTS EMERGENCIES EMERGENCY PREPAREDNESS EMERGENCY RESPONSE EMERGENCY RESPONSES EMPLOYMENT ENVIRONMENTAL DEGRADATION EXCHANGE RATE EXTERNAL CREDIT EXTREME DROUGHT EXTREME EVENTS EXTREME WEATHER EXTREME WEATHER EVENTS FAMINE FAMINE EARLY WARNING SYSTEM FARMER FARMERS FEASIBILITY FINANCIAL CAPACITY FINANCIAL CONSTRAINTS FINANCIAL COOPERATION FINANCIAL EXCLUSION FINANCIAL INCENTIVES FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL MARKETS FINANCIAL MECHANISM FINANCIAL RESILIENCE FINANCIAL RESOURCES FINANCIAL SERVICES FINANCIAL SUPPORT FINANCIAL TERMS FINANCING SOURCES FIRE FIRE PREVENTION FIRES FLOOD FLOODING FLOODS FOOD AID FOOD SECURITY HEALTH INSURANCE HOUSEHOLD FINANCES HOUSING HURRICANE HURRICANE RISK HURRICANES IMPACT OF DISASTER IMPACT OF DISASTERS IMPORTS INCOME INCOME HOUSEHOLDS INDEMNITY INDEMNITY INSURANCE INFORMATION DISSEMINATION INFRASTRUCTURE DAMAGE INSURANCE INSURANCE ASSOCIATION INSURANCE COMPANIES INSURANCE COMPANY INSURANCE CONTRACT INSURANCE COVER INSURANCE MARKET INSURANCE MARKETS INSURANCE PILOT INSURANCE POLICIES INSURANCE POLICY INSURANCE PREMIUMS INSURANCE PRODUCT INSURANCE PRODUCTS INSURANCE SCHEMES INSURANCE SECTOR INSURER INSURERS INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL REINSURANCE INTERNATIONAL STRATEGY FOR DISASTER REDUCTION LANDSLIDES MARKET RISK MICRO-INSURANCE MICROFINANCE MICROINSURANCE MITIGATION MITIGATION MEASURES MONETARY TERMS NATURAL DISASTER NATURAL DISASTERS NATURAL HAZARDS NATURAL PHENOMENA NON-LIFE INSURANCE OPERATING COSTS POLICY FRAMEWORKS POLICYHOLDERS PORTFOLIO PREDICTABILITY PRICE RISK PRIVATE INSURANCE PROGRAMS PROPERTY INSURANCE PUBLIC ENTERPRISES RECONSTRUCTION REGULATORY FRAMEWORK REINSURANCE REINSURER REINSURERS RESERVES RISK ANALYSIS RISK ASSESSMENT RISK ASSESSMENTS RISK EXPOSURE RISK FACTORS RISK INSURANCE RISK MANAGEMENT RISK MANAGEMENT SYSTEM RISK MITIGATION RISK PROFILES RISK TRANSFER SAFETY SAVINGS SCENARIOS SOCIAL SAFETY NETS SOLVENCY STORM STORMS SUPERVISORY FRAMEWORK SUPPLY SIDE TRANSACTION COSTS TROPICAL CYCLONE TSUNAMIS URBANIZATION VOLCANOES VULNERABILITY TO DISASTERS WATER SUPPLY WIND SPEED
Online Access:	http://documents.worldbank.org/curated/en/958501468204563783/Disaster-risk-financing-and-insurance-in-Sub-Saharan-Africa-review-and-options-for-consideration http://hdl.handle.net/10986/26769

Description
Summary:	This policy note is a preliminary effort to present a body of knowledge on the state of disaster risk financing and insurance in Sub-Saharan Africa. It aims to contribute to a strengthened understanding and collective knowledge within Sub-Saharan Africa on disaster risk financing and insurance, and to encourage open dialogue between stakeholders on how strategies can best be developed to increase financial resilience against natural disasters. The report is targeted at policy-makers and actors in the international community with an interest in this agenda. In the context of this report, disaster risk financing and insurance refers to instruments and mechanisms at the macro, market and micro level that provide financial resources to assist with response and recovery efforts in the aftermath of a disaster. This report focuses on natural disasters, which we can describe as unforeseen events driven by natural phenomena that cause serious disruption of the functioning of a community or a society causing widespread human, material, economic and/or environmental losses which overwhelm the capacity of the affected community or society. This report discusses rapid onset disasters such as cyclones, earthquakes and floods but also slow onset events such as drought. Sub-Saharan African countries are highly exposed to a wide range of adverse natural events, with hydro-meteorological hazards impacting the largest number of people. Disaster risk financing and insurance (DRFI) has been highlighted by the African union, regional economic communities and individual countries as an area for regional financial cooperation.

Disaster Risk Financing and Insurance in Sub-Saharan Africa : Review and Options for Consideration

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