Financial Protection of Public Assets - A Practitioner's Guide for Public Officials
Financial Protection of Public Assets - A Practitioner's Guide for Public Officials is aimed as resource for government practitioners seeking to develop and implement a financial protection program on public assets. It builds on materials developed in support of discussions on public asset insurance under the Southeast Asia Disaster Risk Insurance Facility (SEADRIF) platform. Further, it draws on lessons learned in preparing and implementing public asset risk financing and insurance solutions across advanced and emerging economies in Asia.
The objective of this guide is to provide government officials with an understanding of the steps required to design, develop, implement, and maintain effective financial protection of public assets, particularly through risk transfer and insurance. This series will draw on case studies globally to illustrate the key issues commonly encountered when designing and implementing financial protection measures. The overall focus of the series is on the following key areas:
- Why should governments develop a financial protection strategy for public assets?
- When can insurance be a good option for the financial protection of public assets?
- Who are the key stakeholders (both external and internal) that play roles in each stage of the insurance development process?
- What are the most important step-by-step considerations involved in developing a strategy for public asset insurance?
- How can public officials work with and leverage the commercial insurance and reinsurance market participants to support public asset insurance?
This guide will focus on risk transfer solutions, primarily in the form of insurance, for public assets. Risk transfer solutions help governments reduce some of the financial burden for emergency, rehabilitation and reconstruction efforts and manage the timely reinstatement of services. The chapters will describe how insurance should be considered in the context of a wider disaster risk-financing strategy. They cover the main aspects for an end-to-end development of public asset financial protection and insurance.