Within the project "Developing Risk Management Approaches for Climate Risks", the Strategic Partnership between the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) and Allianz Reinsurance developed risk profiles for public assets within an Integrated Disaster Risk Management (IDRM) approach for three municipalities in Ghana.
A risk profile of a public asset is an evaluation of the probability of the asset getting damaged depending on its exposure and vulnerability to a hazard. This determines potential risk reduction measures and the estimation of funds needed to protect the public asset, as a way of mitigating potential risks and threats. In addition, if there should be any residual risk after taking the necessary adaptation measures, these risks can then be transferred to third parties such as insurance companies. This flyer gives clear recommendations and examples on how such risk profiles for public assets can be developed in order to enable measures that increase resilience.