Workshop on Disaster Risk
Financing, Insurance and Risk Transfer
To focus on Investment in DRR and
Disaster Risk Coverage for All
Natural
disasters generate significant fiscal risks, severely impacting developing
countries. A robust disaster risk
management programme is essential to strengthen their financial resilience.
“Work
towards risk coverage for all - starting from poor households to SMEs to
multi-national corporations to nation states,” says the second point in the Prime
Minister’s ten-point agenda on Disaster Risk Reduction, announced in his
inaugural speech at the Asian Ministerial Conference on Disaster Risk Reduction
(AMCDRR) 2016. Also, the third priority in the Sendai Framework for Disaster
Risk Reduction 2015-2030 focuses on “Investing in Disaster Risk Reduction (DRR)
for Resilience”.
To
discuss the issues and challenges faced by different stakeholders in assessing
insurance along with the capacity gap in undertaking such initiatives, National
Institute of Disaster Management (NIDM), in partnership with Insurance
Institute of India (III), organised a workshop on Disaster Risk Financing,
Insurance and Risk Transfer on February 13, 2020, in Mumbai, Maharashtra.
The
workshop aimed to impart the understanding of disaster risk financing and creation
of action plans for implementation by state governments, local authorities and
insurance companies.
The
workshop is a precursor to the National Platform for Disaster Risk Reduction
(NPDRR), that is scheduled to be held in New Delhi in May 2020. NPDRR
aims at evolving a participatory process of decision making in disaster
management with the active involvement of the Central & State Governments
and various stakeholders.
In
his video message, Dr. P.K. Mishra, the Principal Secretary to the Prime
Minister, highlighted the importance of insurance not only for financial
resilience but also as a tool for mitigating the impact of disasters.
The
workshop was attended by nodal officers for Disaster Management from concerned
Central Ministries / Departments, representatives from Government
Organisations, State Disaster Management Authorities, Insurance and Re-Insurance companies, Insurance experts,
World Bank, UN Institutions, Financial Institutions and organisations working
on Catastrophe Financial Resilience from across the country.
On the occasion, reports on
'Property Insurance in New & Existing Housing' and ‘Challenges in Insuring Flood-Prone Areas
of Mumbai’ were also released.
Technical
sessions
ü Disaster
Risk finance and Insurance for the option of Risk Transfer;
ü Challenges
in Implementing Insurance for building Disaster Risk Resilience; and
ü State
Government Perspectives and Designing Action Plan for the Future.
Note (Added later):
The 3rd meeting of the NPDRR stands postponed. It may be held in October 2020
after the monsoon season.
1.Comments will be moderated by NDMA'seditorial team. 2.Comments that are abusive, personal, incendiary or irrelevant cannot be published. 3.Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and'). 4.We may remove hyperlinks within comments. 5.Please use a genuine email ID and provide your name, to avoid rejection.
Comments
Post a comment