Evidence of demand for microinsurance for coping and adaptation to weather extremes in the Caribbean

Lashley, Jonathan G.; Warner, Koko

doi:10.1007/s10584-013-0922-1

Cited by 25 publications

(24 citation statements)

References 21 publications

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“…This pilot covered 1660 families from 14 villages and uses model-generated flood data for payout calculation. Indonesia Mercy Corps received financial grants from OFDA-USAID and Boeing Corporation for a project (2008)(2009)(2010) to facilitate coordination among local communities, local governments and private sector actors so they People hesitate to take insurance cover due to lack of awareness about the need for insurance, cost of premiums and lack of trust in insurers (Lashley & Warner, 2015). On an average only 30-40% of disaster risks are insured.…”

Section: Social Investmentsmentioning

confidence: 99%

“…Insurance spreads losses among people and across time and reduces the catastrophic impact of disasters. Appropriate pricing of risks can motivate risk reducing behavior of insured (Lashley & Warner, 2015). While insurance can support adaptation and risk resilience for extreme weather, it is not appropriate for foreseeable, widespread, slower onset climate induced impacts.…”

Section: Social Investmentsmentioning

confidence: 99%

“…Even for weather related events, insurance cannot be a stand-alone measure to address frequent hazards such as flooding. Resilience building and prevention of loss and damage may be more cost effective ways to address these types of risks (Lashley & Warner, 2015).…”

Section: Social Investmentsmentioning

confidence: 99%

“…During a disaster, people used their savings or borrowed money or sought government assistance or simply did nothing. There is a need for alternative financial risk management approaches like weather-related micro insurance (Lashley & Warner, 2015). Alternative Risk transfer mechanisms have been necessitated due to increasing severity of losses due to catastrophic events and hardening of reinsurance markets (See Figure 16).…”

Section: Volume 6 Issue 2 September 2017mentioning

confidence: 99%

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A Public-Private Partnership Model for Managing Disasters in India

Ganapathy¹

2017

IBMRD

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The frequency of natural disasters across the globe has increased and the intensity of each disaster has only exposed all nations to the vulnerabilities associated with the occurrence of disasters. Rapid urbanization, climate change, the growing gap between the haves and have-nots, inability of the state machinery to meet the needs of the socially marginalized communities and exponential growth in population are some of the reasons for the occurrence of natural disasters and the adverse effects associated with them. The financial burden of disasters is something that the government alone cannot handle. Therefore there is a greater need for private sector participation in disaster management more than ever before. Disaster planning is equally important as response and recovery and the private sector can play a crucial role in this area. Public private participation in disaster management is needed to encourage greater involvement of the private sector in disaster management efforts. The main challenge is to make such partnerships more productive so that disaster management can be effective. This study has reviewed the body of work in this area to highlight the challenges associated with public private participation in disaster management and the key research areas emerging from the same. Limited insurance and reinsurance capacity has led to the need to examine alternative risk transfer mechanisms to meet the financial obligations in the aftermath of a disaster. This effort addresses the public private participation in disaster management from both angles viz. the involvement of private sector in disaster planning, response and recovery as well as involvement in alternative risk transfer mechanisms. Based on experiences of private sector in disaster management in various regions of the world, this study has recommended actions that need to be taken by the state machinery to evolve a regulatory framework so that greater value can be derived from public private partnerships.Key words: Public-Private participation, disaster management, disaster, disaster recovery, reinsurance, alternative risk transfer, resilience. IntroductionIn an increasingly fragile world, climate change, urbanization, exponential growth in population in some regions and environmental degradation has resulted in increase in the frequency and intensity of disasters. It has therefore become important to get risk management right. A recent World Bank report concluded that the cost of disasters has quadrupled over the last 30 years -from an annual average of around a year in the 1980's to annual losses of some US$ 200 billion today. Unpredictable nature of environmental hazards are challenging for governments, communities and individual households as they lack the capacity to manage the covariant risk presented by droughts, floods and hurricanes (Kelman & West, 2009;Mycoo, 2011, Campbell & Beckford, 2009. Over 25 million people were affected by droughts in the Horn of Africa and the Sahel. Typhoon Haiyan in Philippines impacted over 16 millio...

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Section: Social Investmentsmentioning

confidence: 99%

Section: Social Investmentsmentioning

confidence: 99%

Section: Social Investmentsmentioning

confidence: 99%

Section: Volume 6 Issue 2 September 2017mentioning

confidence: 99%

See 2 more Smart Citations

A Public-Private Partnership Model for Managing Disasters in India

Ganapathy¹

2017

IBMRD

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“…For example, these investments might be not useful in case of foreseeable and widespread frequent climate-induced hazards such as annual flooding. For these types of risks, resilience-building and preventive measures would represent more cost effective coping ways (Lashley and Warner 2013).…”

Section: Risk Insurance Mechanisms As a Businesses Model Approachmentioning

confidence: 99%

A Conceptual Governance Framework for Climate Change Adaptation and Disaster Risk Reduction Integration

Forino

Meding

Brewer

2015

Int J Disaster Risk Sci

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Climate change adaptation (CCA) and disaster risk reduction (DRR) have similar targets and goals in relation to climate change and related risks. The integration of CCA in core DRR operations is crucial to provide simultaneous benefits for social systems coping with challenges posed by climate extremes and climate change. Although state actors are generally responsible for governing a public issue such as CCA and DRR integration, the reform of top-down governing modes in neoliberal societies has enlarged the range of potential actors to include non state actors from economic and social communities. These new intervening actors require in-depth investigation. To achieve this goal, the article investigates the set of actors and their bridging arrangements that create and shape governance in CCA and DRR integration. The article conducts a comprehensive literature review in order to retrieve main actors and arrangements. The article summarizes actors and arrangements into a conceptual governance framework that can be used as a backdrop for future research on the topic. However, this framework has an explorative form, which must be refined according to site-and context-specific variables, norms, or networks. Accordingly, this article promotes an initial application of the framework to different contexts. Scholars may adopt the framework as a roadmap with which to corroborate the existence of a theoretical and empirical body of knowledge on governance of CCA and DRR integration.

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Loss and damage: A review of the literature and directions for future research

McNamara

Jackson

2018

WIREs Climate Change

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Climate change researchers argue that a residual domain exists beyond the limits of adaptation to prevent deleterious climate change impacts: this has been labeled as "loss and damage." Over the last 8 years, there has been significant growth in loss and damage scholarship thus making it imperative to take stock of what we know already and directions for future research. We undertook a quantitative review of academic publications (n = 122) in the loss and damage field to date and documented study characteristics, thematic areas, trends, gaps, and opportunities. The first publication appeared in 2010 before a significant increase in published research after 2013. Although increasingly diverse over time, loss and damage studies have primarily focused on technical, political, and normative questions. Our analysis suggests the following: that researchers predominately conceptualize loss and damage as "limits to adaptation"; that the literature is more practical (i.e., descriptive, does not challenge underlying presuppositions) than critical (i.e., challenges underlying presuppositions) in orientation; that loss and damage is conceived as both an occurring and future condition; and that economic dimensions of loss and damage are prioritized in studies. Recommended future research directions include empirical and theoretical explorations of the potential for transformational change; understanding what people value and how they can engage with loss and grief; ensuring the perspectives of the most vulnerable groups are included in decision-making; and greater policy-relevant research and critical analyses of loss and damage conceptualizations and the Warsaw International Mechanism.

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Evidence of demand for microinsurance for coping and adaptation to weather extremes in the Caribbean

Cited by 25 publications

References 21 publications

A Public-Private Partnership Model for Managing Disasters in India

A Public-Private Partnership Model for Managing Disasters in India

A Conceptual Governance Framework for Climate Change Adaptation and Disaster Risk Reduction Integration

Loss and damage: A review of the literature and directions for future research

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