Natural Disaster Risk Financing and Transfer in ASEAN Countries
- Paul RaschkyPaul RaschkyMonash University
- and Sommarat ChantaratSommarat ChantaratAustralian National University
ASEAN countries are frequently hit by a variety of natural disasters, and a large fraction of economic activity in ASEAN countries is located in areas exposed to these natural perils. Increasing disaster damages require ASEA countries to manage the financial losses in a more efficient and proactive manner. Currently, most risk-transfer mechanisms in this region rely on ad-hoc government relief, which is not sustainable. Multilateral cooperation in the areas of risk-modeling and mapping as well as joint efforts to establish financial risk-transfer solutions could help to overcome existing challenges in this area.