Parametric Re/Insurance: An alternative to uncertain foreign aid and donor capital in Asian members of the Global South
The risk of increased natural disasters around the world is particularly menacing...
The risk of increased natural disasters around the world is particularly menacing for the Global South and Asia in particular.
The world’s most vulnerable populations are not only exposed to greater natural threats, but they also lack the resources to best minimize human suffering after natural disasters and invest in accelerated recovery.
Heavy reliance on foreign aid and donor capital may have worked in the past, but increased demand for those forms of capital could be frustrated by governmental and bureaucratic machinations in developed markets impeding the flow of capital from sources that have always been inefficient.
“Parametric insurance and reinsurance is the key to resilience and economic security in the face of both increasing natural threats and greater uncertainty regarding both the availability and speed of donor capital and foreign aid.”
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