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.
26 Aug 2015, UNISDR AF
Improved access to insurance can boost the resilience of vulnerable communities to recurrent disasters such as droughts and floods in Sub-Saharan Africa. 'Insurance needs to be recognized as an integral tool in reducing poverty as it protects those with low incomes against specific perils that are insured', said Nelson Kuria, board member of the International Co-operative and Mutual Insurance Federation (ICMIF)...
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