Indonesia and the Philippines Strengthen Disaster Resilience Through Knowledge Sharing on Public Asset Insurance

In a significant move toward enhancing regional cooperation in financial resilience, the governments of Indonesia and the Philippines have launched a collaborative knowledge-sharing initiative focused on public asset insurance. This builds on the ongoing technical assistance from the World Bank to both governments on disaster risk finance and insurance, which includes analytical work, technical advice, capacity building for government officials, and sharing international best practices.

Protection of critical infrastructure and services, especially in emerging economies, is essential for preserving economic growth and ensuring access to basic services. This involves ensuring sound asset management, understanding risk exposures and managing these appropriately with risk reduction, risk retention, and risk transfer strategies. Both Indonesia and the Philippines are located on the Pacific Ring of Fire, with  Indonesia highly exposed to earthquakes and volcano eruption, Philippines to typhoons, and both countries are increasing exposed to floods. There is a shared recognition on the need for robust risk management strategies to safeguard public investments and maintain essential services.

The knowledge exchange program, supported by the World Bank, targeted to enhancing capacities on public assets insurance took place in Jakarta from September 23 to 25, 2025, gathering policymakers, technical experts, and insurance practitioners from both countries. Participants shared experiences and lessons learned in designing and implementing public asset insurance schemes.

The session included presentations on Indonesia’s evolving approach to public asset insurance, with a focus on efforts made to enhance data collection and valuation of assets for its indemnity insurance program. The Philippines shared insights from implementing innovative solutions such as parametric and indemnity solutions to protect their public asset exposures.

Discussions emphasized the importance of data collection, risk modeling, and inter-agency coordination in creating effective insurance programs. The event also highlighted the crucial role of international partners, including the World Bank, in supporting capacity building and policy development.

Expected outcomes of this initiative include improved policy frameworks, enhanced technical capacity, and the establishment of sustainable public asset insurance programs in both countries. By collaborating, Indonesia and the Philippines are setting a regional example of proactive risk management and cooperation in response to increasing climate and disaster risks.

This partnership underscores the vital importance of knowledge sharing in advancing disaster resilience and sustainable development, ensuring that governments are better equipped to protect their citizens and public assets for generations to come.

This Knowledge Exchange program was financed by the Global Shield Financing Facility.