Call on governments to develop standards for disaster relief

Wednesday, September 23, 2015
The Asian Development Bank (ADB) and OECD´s Global Seminar on Disaster Risk Financing, fostering an in-depth debate on the development of effective approaches to the financial management of disaster risks, took place 17-18 September in Kuala Lumpur, Malaysia.
Key topics at the meeting included the need to develop strategies for disaster risk financing and funding of disaster recovery, the role of insurance in supporting financial resilience and the development and support of an insurance culture. 
“Until the role of governments is clear, others will find it difficult to enter the market through insurance or other means, as, if people presume the government will take care of them, they will feel no need to buy insurance”, explained Michael J. McCord, Microinsurance Network Chair, highlighting the need for governments to develop standards for their provision of disaster relief. 
Read the full press release by the Network here
Read the OECD press release here