Presentation by Maryam Gholnaraghi (The Geneva Association)
This is an excerpt from the launch webinar of the National Disaster Risk Assessment Words into Action Guidelines. The guidelines focus on Sendai Framework’s first Priority for Action: Understanding Disaster Risk, which is the basis for all measures on disaster risk reduction and is closely linked to the other three Priorities for Action.
Sovereign risk financing and risk transfer schemes are- a critical component of a comprehensive disaster risk management strategy. Such measures offer a variety of solutions to provide cover against financial impacts of disasters on governments, businesses and individuals as well as to finance some of the post-disaster expenses. Sovereign risk transfer can take several forms, each with different trigger mechanisms, payout conditions and timescales. The suitability of this approach will differ depending on each government’s budget and risk contexts.
To determine the required scope and type of risk financing or risk transfer in a country, a government should first understand the risk context; for example, the potential impacts of disasters on the population, infrastructure and economy. Disaster risk assessment modelling provides this understanding and quantification.
