Publication:
Fiji: Disaster Risk Financing and Insurance

Simple item page
dc.contributor.authorWorld Bank
dc.date.accessioned2015-04-06T22:44:27Z
dc.date.available2015-04-06T22:44:27Z
dc.date.issued2015-02
dc.description.abstractThis note aims to build understanding of the existing disaster risk financing and insurance (DRFI) tools in use in Fiji and to identify gaps where potential engagement could further develop financial resilience. In addition the note aims to encourage peer exchange of regional knowledge, specifically by encouraging dialogue on past experiences, lessons learned, optimal use of these financial tools, and the effect they may have on the execution of post-disaster funds. In 2012 alone Fiji experienced three major events with estimated total damage of F$146 million (US$78 million). Fiji is expected to incur, on average over the long term, annual losses of F$158 million (US$85 million) due to earthquakes and tropical cyclones. In the next 50 years Fiji has a 50 percent chance of experiencing a loss exceeding F$1,500 million (US$806 million). The country has a taken a proactive approach to DRFI and developed a finance manual for post-disaster budget execution. The government now has F$3 million (US$1.6 million) available in DRFI instruments to facilitate disaster response and also implemented tax concessions to encourage donations in the wake of tropical cyclone Evan. A number of options to support ongoing DRFI improvements in Fiji are presented for consideration: (a) the finance manual developed by the Ministry of Finance for post-disaster procedures should be finalized, and cabinet approval should be sought; (b) an overarching disaster risk financing and insurance strategy should be developed that includes options for risk transfer; and (c) assets should be identified in order to develop an insurance program for critical public assets.en
dc.identifierhttp://documents.worldbank.org/curated/en/2015/02/24157492/fiji-country-note-disaster-risk-financing-insurance
dc.identifier.doi10.1596/21696
dc.identifier.urihttps://hdl.handle.net/10986/21696
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTING
dc.subjectAGENTS
dc.subjectALLOCATION
dc.subjectAPPLICATIONS
dc.subjectASSET VALUE
dc.subjectASSURANCE
dc.subjectATTACHMENT POINT
dc.subjectBANKING CORPORATION
dc.subjectBANKS
dc.subjectBORROWING CAPACITY
dc.subjectBROKER
dc.subjectBROKERS
dc.subjectBUDGET DEFICIT
dc.subjectBUILDING CODE
dc.subjectCAPITAL MARKETS
dc.subjectCAPTIVE INSURANCE
dc.subjectCATASTROPHE BONDS
dc.subjectCATASTROPHE INSURANCE
dc.subjectCATASTROPHIC EVENT
dc.subjectCLIMATE
dc.subjectCLIMATE CHANGE
dc.subjectCONTINGENCY PLANNING
dc.subjectCONTINGENT LIABILITY
dc.subjectCOUNTRY RISK
dc.subjectCREDIT ARRANGEMENTS
dc.subjectCREDIT LINES
dc.subjectCURRENCY
dc.subjectDAMAGE ASSESSMENT
dc.subjectDAMAGE ASSESSMENTS
dc.subjectDAMAGES
dc.subjectDEPOSIT
dc.subjectDEVELOPMENT BANK
dc.subjectDISASTER
dc.subjectDISASTER EMERGENCY
dc.subjectDISASTER EMERGENCY RESPONSE
dc.subjectDISASTER EVENTS
dc.subjectDISASTER FINANCING
dc.subjectDISASTER INSURANCE
dc.subjectDISASTER MANAGEMENT
dc.subjectDISASTER MITIGATION
dc.subjectDISASTER PREPAREDNESS
dc.subjectDISASTER RECONSTRUCTION
dc.subjectDISASTER REDUCTION
dc.subjectDISASTER RELIEF
dc.subjectDISASTER RESPONSE
dc.subjectDISASTER RISK
dc.subjectDISASTER RISK FINANCING
dc.subjectDISASTER RISK REDUCTION
dc.subjectDISASTER RISKS
dc.subjectDISBURSEMENT
dc.subjectDISBURSEMENTS
dc.subjectDOMESTIC BONDS
dc.subjectDOMESTIC CREDIT
dc.subjectDOMESTIC DEBT
dc.subjectDOMESTIC SOURCES
dc.subjectDRAWN DOWN
dc.subjectEARTHQUAKE
dc.subjectEARTHQUAKE INSURANCE
dc.subjectEARTHQUAKES
dc.subjectECONOMIC IMPACT
dc.subjectEMERGENCY OPERATIONS
dc.subjectEQUIPMENT
dc.subjectEXCHANGE RATE
dc.subjectEXPENDITURE
dc.subjectEXPENDITURES
dc.subjectEXTERNAL CREDIT
dc.subjectEXTERNAL DEBT
dc.subjectEXTREME EVENTS
dc.subjectFINANCIAL CONSTRAINTS
dc.subjectFINANCIAL EXPOSURES
dc.subjectFINANCIAL INSTRUMENTS
dc.subjectFINANCIAL MANAGEMENT
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL RESILIENCE
dc.subjectFINANCIAL RESOURCES
dc.subjectFINANCIAL RISK
dc.subjectFINANCIAL RISK-SHARING MECHANISMS
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL SUPPORT
dc.subjectFINANCING REQUIREMENTS
dc.subjectFIRE
dc.subjectFLOOD
dc.subjectFLOODING
dc.subjectFLOODS
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFORMS OF CREDIT
dc.subjectFUNGIBLE
dc.subjectGENERAL INSURANCE
dc.subjectGLOBAL BOND
dc.subjectGOVERNMENT BONDS
dc.subjectGOVERNMENT DEBT
dc.subjectGOVERNMENT DEPARTMENTS
dc.subjectGRANT FUNDING
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectHEALTH CARE
dc.subjectHOLDING
dc.subjectHOLDINGS
dc.subjectIMPACT OF DISASTERS
dc.subjectINCOME
dc.subjectINCOME STREAM
dc.subjectINDEBTED COUNTRIES
dc.subjectINDEMNITY
dc.subjectINDEMNITY INSURANCE
dc.subjectINSPECTIONS
dc.subjectINSTRUMENT
dc.subjectINSURANCE
dc.subjectINSURANCE AGENTS
dc.subjectINSURANCE BROKER
dc.subjectINSURANCE BROKERS
dc.subjectINSURANCE CLAIMS
dc.subjectINSURANCE COMPANIES
dc.subjectINSURANCE COMPANY
dc.subjectINSURANCE CONTRACTS
dc.subjectINSURANCE COVERAGE
dc.subjectINSURANCE INDUSTRY
dc.subjectINSURANCE LAW
dc.subjectINSURANCE MARKET
dc.subjectINSURANCE MARKETS
dc.subjectINSURANCE PENETRATION
dc.subjectINSURANCE PILOT
dc.subjectINSURANCE PREMIUM
dc.subjectINSURANCE PREMIUMS
dc.subjectINSURANCE PRODUCTS
dc.subjectINSURANCE RATES
dc.subjectINSURANCE REGULATION
dc.subjectINSURANCE SUPERVISION
dc.subjectINSURANCE SUPERVISORS
dc.subjectINSURED LOSSES
dc.subjectINSURER
dc.subjectINSURERS
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL DEVELOPMENT
dc.subjectINTERNATIONAL INSURANCE
dc.subjectINTERNATIONAL REINSURANCE
dc.subjectINTERNATIONAL RELIEF
dc.subjectINTERNATIONAL STRATEGY FOR DISASTER REDUCTION
dc.subjectISSUANCE
dc.subjectLAND USE
dc.subjectLANDSLIDES
dc.subjectLIFE INSURANCE
dc.subjectLIFE INSURANCE PREMIUM
dc.subjectLIFE INSURERS
dc.subjectLIQUIDITY
dc.subjectLOAN
dc.subjectLOCAL BUSINESSES
dc.subjectLOCAL MARKET
dc.subjectLOCAL NONGOVERNMENTAL ORGANIZATIONS
dc.subjectMACROECONOMIC STABILIZATION
dc.subjectMARKET PENETRATION
dc.subjectMATURITY
dc.subjectMONETARY FUND
dc.subjectNATIONAL INVESTMENT
dc.subjectNATURAL CATASTROPHE
dc.subjectNATURAL CATASTROPHES
dc.subjectNATURAL DISASTER
dc.subjectNATURAL DISASTERS
dc.subjectNATURAL HAZARD
dc.subjectNATURAL HAZARDS
dc.subjectNON-LIFE INSURANCE
dc.subjectOFFSHORE MARKET
dc.subjectOPPORTUNITY COST
dc.subjectPHYSICAL ASSETS
dc.subjectPOLITICAL UNCERTAINTIES
dc.subjectPORTFOLIO
dc.subjectPORTFOLIOS
dc.subjectPROGRAMS
dc.subjectPROPERTY INSURANCE
dc.subjectPROPERTY INSURERS
dc.subjectPRUDENTIAL SUPERVISION
dc.subjectPUBLIC ASSETS
dc.subjectPUBLIC FUNDS
dc.subjectPUBLIC SPENDING
dc.subjectREINSURANCE
dc.subjectREINSURANCE CAPACITY
dc.subjectREINSURANCE CONTRACT
dc.subjectREINSURANCE PREMIUMS
dc.subjectREINSURERS
dc.subjectRELIEF
dc.subjectRELIEF ASSISTANCE
dc.subjectRELIEF SUPPLIES
dc.subjectRELIEF WORK
dc.subjectRESERVE
dc.subjectRESERVE BANK
dc.subjectRESERVE FUND
dc.subjectRESERVES
dc.subjectRETURN
dc.subjectRETURNS
dc.subjectRISK ASSESSMENT
dc.subjectRISK EXPOSURE
dc.subjectRISK EXPOSURES
dc.subjectRISK FACTORS
dc.subjectRISK INSURANCE
dc.subjectRISK MANAGEMENT
dc.subjectRISK MANAGEMENT PROCESS
dc.subjectRISK POOLING
dc.subjectRISK PREMIUMS
dc.subjectRISK PROFILE
dc.subjectRISK TRANSFER
dc.subjectSALESPEOPLE
dc.subjectSETTLEMENT
dc.subjectSINKING FUND
dc.subjectSOLVENCY
dc.subjectSOLVENCY REQUIREMENTS
dc.subjectSOVEREIGN RISK
dc.subjectSTOCK EXCHANGE
dc.subjectSTOCK EXCHANGES
dc.subjectSTORM
dc.subjectSTORM SURGE
dc.subjectSWAP
dc.subjectSWAPS
dc.subjectTAX
dc.subjectTAX CONCESSIONS
dc.subjectTAX CREDITS
dc.subjectTAX DEDUCTION
dc.subjectTAX INCENTIVES
dc.subjectTRADING
dc.subjectTRANSFER PAYMENTS
dc.subjectTROPICAL CYCLONE
dc.subjectTROPICAL CYCLONES
dc.subjectTSUNAMI
dc.subjectTSUNAMIS
dc.subjectUNDERINSURANCE
dc.subjectUNDERWRITING
dc.subjectVALUATION
dc.subjectVALUATIONS
dc.subjectVOLCANOES
dc.subjectVULNERABILITY TO DISASTERS
dc.subjectWIND SPEED
dc.titleFijien
dc.title.subtitleDisaster Risk Financing and Insuranceen
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.date.disclosure2015-03-16
okr.date.doiregistration2025-05-07T09:21:41.747917Z
okr.doctypeEconomic & Sector Work
okr.doctypeEconomic & Sector Work::Policy Note
okr.docurlhttp://documents.worldbank.org/curated/en/2015/02/24157492/fiji-country-note-disaster-risk-financing-insurance
okr.globalpracticeSocial, Urban, Rural and Resilience
okr.globalpracticeFinance and Markets
okr.guid993781468029722952
okr.identifier.externaldocumentum000477144_20150316091841
okr.identifier.internaldocumentum24157492
okr.identifier.report94981
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2015/03/16/000477144_20150316091841/Rendered/PDF/949810WP0Box380C00Country0Note0Fiji.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.countryFiji
okr.topicInsurance and Risk Mitigation
okr.topicMacroeconomics and Economic Growth::Climate Change Economics
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicLaw and Development::Insurance Law
okr.topicUrban Development::Hazard Risk Management
okr.unitFinance & Markets - GP - IBRD (GFMDR)
Files
Original bundle
Now showing 1 - 2 of 2
Thumbnail Image
Name:
949810WP0Box380C00Country0Note0Fiji.pdf
Size:
8.87 MB
Format:
Adobe Portable Document Format
Download
No Thumbnail Available
Name:
949810WP0Box380C00Country0Note0Fiji.txt
Size:
209.59 KB
Format:
Plain Text
Download
License bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
license.txt
Size:
1.71 KB
Format:
Plain Text
Description:
Download
Collections
Policy Notes