World Bank2017-05-302017-05-302012-11https://hdl.handle.net/10986/26769This policy note is a preliminary effort to present a body of knowledge on the state of disaster risk financing and insurance in Sub-Saharan Africa. It aims to contribute to a strengthened understanding and collective knowledge within Sub-Saharan Africa on disaster risk financing and insurance, and to encourage open dialogue between stakeholders on how strategies can best be developed to increase financial resilience against natural disasters. The report is targeted at policy-makers and actors in the international community with an interest in this agenda. In the context of this report, disaster risk financing and insurance refers to instruments and mechanisms at the macro, market and micro level that provide financial resources to assist with response and recovery efforts in the aftermath of a disaster. This report focuses on natural disasters, which we can describe as unforeseen events driven by natural phenomena that cause serious disruption of the functioning of a community or a society causing widespread human, material, economic and/or environmental losses which overwhelm the capacity of the affected community or society. This report discusses rapid onset disasters such as cyclones, earthquakes and floods but also slow onset events such as drought. Sub-Saharan African countries are highly exposed to a wide range of adverse natural events, with hydro-meteorological hazards impacting the largest number of people. Disaster risk financing and insurance (DRFI) has been highlighted by the African union, regional economic communities and individual countries as an area for regional financial cooperation.en-USCC BY 3.0 IGOACCESS TO INSURANCEACCIDENTAGRICULTURAL BANKSAGRICULTURAL INSURANCEAGRICULTURAL INSURANCE SCHEMEAGRICULTURAL INSURANCE SCHEMESAGRICULTURAL PRODUCTIONALLOCATIONASSURANCEBANKSBASIS RISKBUILDING CODESCATASTROPHESCATASTROPHIC EVENTSCATASTROPHIC LOSSESCLIMATECLIMATE CHANGECLIMATE RISK MANAGEMENTCONSUMERSCONTINGENCY PLANNINGCONTINGENCY PLANSCONTINGENT LIABILITIESCONTINGENT LIABILITYCOST BENEFIT ANALYSISCOST OF INSURANCECOST OF INSURANCE PREMIUMSCOST-BENEFITCOST-BENEFIT ANALYSISCOVERAGECREDIT RISKCROP INSURANCECYCLONESDEATH TOLLDEBTDECLARATIONDECLARATIONSDISASTERDISASTER AIDDISASTER ASSISTANCEDISASTER EVENTDISASTER EVENTSDISASTER FINANCINGDISASTER MANAGEMENTDISASTER PREPAREDNESSDISASTER RECOVERYDISASTER REDUCTIONDISASTER RELIEFDISASTER RESPONSEDISASTER RISKDISASTER RISK FINANCINGDISASTER RISK REDUCTIONDISASTER RISKSDISEASE OUTBREAKDONOR COMMUNITYDRAWN DOWNDROUGHTDROUGHT INSURANCEDROUGHTSEARLY WARNINGEARLY WARNING SYSTEMSEARTHQUAKEEARTHQUAKESECONOMIC ACTIVITYECONOMIC DEPENDENCEECONOMIC IMPACTSEMERGENCIESEMERGENCY PREPAREDNESSEMERGENCY RESPONSEEMERGENCY RESPONSESEMPLOYMENTENVIRONMENTAL DEGRADATIONEXCHANGE RATEEXTERNAL CREDITEXTREME DROUGHTEXTREME EVENTSEXTREME WEATHEREXTREME WEATHER EVENTSFAMINEFAMINE EARLY WARNING SYSTEMFARMERFARMERSFEASIBILITYFINANCIAL CAPACITYFINANCIAL CONSTRAINTSFINANCIAL COOPERATIONFINANCIAL EXCLUSIONFINANCIAL INCENTIVESFINANCIAL INSTITUTIONSFINANCIAL MANAGEMENTFINANCIAL MARKETSFINANCIAL MECHANISMFINANCIAL RESILIENCEFINANCIAL RESOURCESFINANCIAL SERVICESFINANCIAL SUPPORTFINANCIAL TERMSFINANCING SOURCESFIREFIRE PREVENTIONFIRESFLOODFLOODINGFLOODSFOOD AIDFOOD SECURITYHEALTH INSURANCEHOUSEHOLD FINANCESHOUSINGHURRICANEHURRICANE RISKHURRICANESIMPACT OF DISASTERIMPACT OF DISASTERSIMPORTSINCOMEINCOME HOUSEHOLDSINDEMNITYINDEMNITY INSURANCEINFORMATION DISSEMINATIONINFRASTRUCTURE DAMAGEINSURANCEINSURANCE ASSOCIATIONINSURANCE COMPANIESINSURANCE COMPANYINSURANCE CONTRACTINSURANCE COVERINSURANCE MARKETINSURANCE MARKETSINSURANCE PILOTINSURANCE POLICIESINSURANCE POLICYINSURANCE PREMIUMSINSURANCE PRODUCTINSURANCE PRODUCTSINSURANCE SCHEMESINSURANCE SECTORINSURERINSURERSINTERNATIONAL FINANCIAL INSTITUTIONSINTERNATIONAL REINSURANCEINTERNATIONAL STRATEGY FOR DISASTER REDUCTIONLANDSLIDESMARKET RISKMICRO-INSURANCEMICROFINANCEMICROINSURANCEMITIGATIONMITIGATION MEASURESMONETARY TERMSNATURAL DISASTERNATURAL DISASTERSNATURAL HAZARDSNATURAL PHENOMENANON-LIFE INSURANCEOPERATING COSTSPOLICY FRAMEWORKSPOLICYHOLDERSPORTFOLIOPREDICTABILITYPRICE RISKPRIVATE INSURANCEPROGRAMSPROPERTY INSURANCEPUBLIC ENTERPRISESRECONSTRUCTIONREGULATORY FRAMEWORKREINSURANCEREINSURERREINSURERSRESERVESRISK ANALYSISRISK ASSESSMENTRISK ASSESSMENTSRISK EXPOSURERISK FACTORSRISK INSURANCERISK MANAGEMENTRISK MANAGEMENT SYSTEMRISK MITIGATIONRISK PROFILESRISK TRANSFERSAFETYSAVINGSSCENARIOSSOCIAL SAFETY NETSSOLVENCYSTORMSTORMSSUPERVISORY FRAMEWORKSUPPLY SIDETRANSACTION COSTSTROPICAL CYCLONETSUNAMISURBANIZATIONVOLCANOESVULNERABILITY TO DISASTERSWATER SUPPLYWIND SPEEDPolicy NoteWorld Bank10.1596/26769