Publication:
The Philippines Parametric Catastrophe Risk Insurance Program Pilot: Lessons Learned

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dc.contributor.authorWorld Bank
dc.date.accessioned2021-07-23T13:43:31Z
dc.date.available2021-07-23T13:43:31Z
dc.date.issued2020-12
dc.description.abstractThe Philippine Parametric Catastrophe Risk Insurance Program (the ‘parametric program’) represents a key milestone in this partnership. In July of 2017, the Philippines placed on the international financial markets a portfolio of catastrophe risk that transferred typhoon and earthquake risk from the Philippines through the World Bank to the international reinsurance market in local currency. In 2018, the GOP purchased a second insurance policy, doubling the amount of coverage. The two-year pilot has now ended, although many of the lessons learned and technical work undertaken have proved useful in the subsequent preparation and placement of the GOP catastrophe (CAT) bond in December 2019. As part of closing this activity, the World Bank commissioned a lessons-learned evaluation to help all par ties involved better understand the successes and challenges of the program, and guide their continued efforts to improve financial preparedness to disasters in the Philippines. The evaluation is also mean t to build the evidence base on parametric insurance and allow for knowledge sharing with similar programs that are being explored or implemented in other countries. This report discusses the findings from the evaluation.en
dc.identifierhttp://documents.worldbank.org/curated/en/600081624863743116/The-Philippines-Parametric-Catastrophe-Risk-Insurance-Program-Pilot-Lessons-Learned
dc.identifier.doi10.1596/36013
dc.identifier.urihttps://hdl.handle.net/10986/36013
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectCATASTROPHE INSURANCE
dc.subjectDISASTER RISK MANAGEMENT
dc.subjectRISK INSURANCE
dc.subjectCATASTROPHE RISK
dc.subjectRISK MITIGATION
dc.subjectDISASTER RISK FINANCE
dc.titleThe Philippines Parametric Catastrophe Risk Insurance Program Piloten
dc.title.subtitleLessons Learneden
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.crossref.titleThe Philippines Parametric Catastrophe Risk Insurance Program Pilot
okr.date.disclosure2021-06-28
okr.date.doiregistration2025-05-07T12:13:22.944838Z
okr.doctypeEconomic & Sector Work
okr.doctypeEconomic & Sector Work::Other Financial Sector Study
okr.docurlhttp://documents.worldbank.org/curated/en/600081624863743116/The-Philippines-Parametric-Catastrophe-Risk-Insurance-Program-Pilot-Lessons-Learned
okr.guid600081624863743116
okr.identifier.externaldocumentum090224b088752b32_1_0
okr.identifier.internaldocumentum33213429
okr.identifier.report161080
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/600081624863743116/pdf/The-Philippines-Parametric-Catastrophe-Risk-Insurance-Program-Pilot-Lessons-Learned.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.countryPhilippines
okr.topicEnvironment::Natural Disasters
okr.topicFinance and Financial Sector Development::Insurance & Risk Mitigation
okr.topicUrban Development::Hazard Risk Management
okr.unitDisaster Risk Financing and Insurance Program (DRFIP)
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