Financial mechanisms formulated to reduce vulnerability to disasters by employing structured instruments such as insurance policies and catastrophe bonds which spread risks in exchange for a premium.
22 Jun 2016, TRF
Bangladesh has seen a near-record breaking 261 deaths so far this year from lightning strikes. The phenomemon is expected to increase by 50 percent by the end of the century. The problem has prompted Bangladesh's government to add lightning strikes to the country's list of official types of disasters. As a result, the government now compensates victims families.
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