Disaster Risk Insurance

Maram Ahmed ()
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Maram Ahmed: School of Oriental and African Studies

Chapter Chapter 7 in Innovative Humanitarian Financing, 2021, pp 175-211 from Palgrave Macmillan

Abstract: Abstract There are often early warning signs available prior to an extreme weather event taking place and these early warning signs provide a crucial window of opportunity to respond to and reduce both the potential impacts of an extreme weather event and disaster risks. There has been an emergence of innovative risk financing mechanisms providing financial security against disasters. This chapter will evaluate the use of innovative sovereign disaster insurance mechanisms for humanitarian intervention. It will give an overview of this type of risk financing instrument and its potential to incentivize risk management and build resilience against disasters. Also, this chapter will assess the role of the African Risk Capacity and in particular, focus on the case of Malawi when the country experienced extreme weather events in 2015/2016, to evaluate the effectiveness of this risk financing mechanism and the lessons that can be learned from the Malawi case.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:pal:psifcp:978-3-030-83209-4_7

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DOI: 10.1007/978-3-030-83209-4_7

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