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When we first began working with Somalia on its Disaster Risk Financing (DRF) agenda, we knew we were stepping into one of the world’s most complex environments. Somalia is not only fragile and conflict-affected, but also highly disaster-prone. Droughts, floods, and cyclones are regular occurrences, and each event brings devastating consequences for people’s lives and livelihoods. All these shocks exert fiscal pressure on the government is immense—immediate disaster response costs alone are...
This "In the Spotlight" interview talks about the Turkish Catastrophe Insurance Pool (TCIP); a pool that has set an example for many other countries across the world. Over the past 25 years, the TCIP has grown to cover more than half of the households across the country. After the devastating February 2023 earthquake, its rapid payouts supported many families and their immediate recovery needs. The TCIP is a unique partnership between the public and the private sector. The government is critical...
Pastoralism is the primary livelihood in the drylands of the Horn of Africa (HoA), accounting for over one-third of agricultural GDP in most countries and around 80 percent in Djibouti and Somalia. It provides the major source of nutrient-rich animal-sourced foods for East Africa’s rapidly growing population. The HoA has a long history of fragility, catastrophic droughts, and conflicts. Climate change is now exacerbating an already difficult situation, leading to increased tension over natural...
Knowledge, especially practical, hands-on know-how, is essential for countries to tackle development challenges and to build resilience to disasters and shocks. One of the most effective ways to share this “how-to” knowledge is through peer-to-peer exchanges among policy makers and practitioners. The challenge: Closing the disaster insurance gap When natural disasters strike, many people and businesses in emerging economies lack insurance protection. This leaves governments to bear most of the...
Indonesia, with over 17,000 islands spanning 1,500 kilometers, has a history of earthquakes, tsunamis, volcanic eruptions, floods, and landslides. Located on the “Pacific Ring of Fire,” the country has 76 active volcanoes, recording over 3,000 natural disasters annually. From 2014 to 2023, the Government of Indonesia’s disaster risk management (DRM) spending ranged from approximately US$ 489 million in 2014 to US$ 6.9 billion in 2021. While pre-disaster spending has increased in recent years...
The victims of flood navigating the road to Preedi in October 2011. | © Shutterstock.com In 2011, Thailand’s worst floods in over 50 years caused US$46.5 billion in damages, worth 12.6 percent of gross domestic product. Thailand is no stranger to the impacts of climate change. The country faces increasing threats from heavy rainfall, sea level rise, floods, and droughts. Historically, floods and storms have been the most frequent natural hazards, affecting up to 1 million people almost every...
For Saoirse Jones, the insurance industry offers more than financial tools—it offers a way to protect lives, communities, and entire societies. That sense of purpose is what has guided her career and continues to drive her work today. As Global Head of Public Sector Solutions at Zurich Resilience Solutions and Co-Chair of the Insurance Development Forum (IDF)’s Disaster Risk Reduction (DRR) Task Force, Saoirse brings over two decades of experience to bridging the gap between risk expertise and...