Gurenko, EugeneLester, Rodney2013-07-012013-07-012004-04https://hdl.handle.net/10986/14296The authors provide a conceptual framework for designing a comprehensive risk management strategy for rapid onset natural disasters at the country level, with a particular emphasis on the role of catastrophe loss funding. The authors discuss the key policy and technical issues involved in building financially sustainable catastrophe risk transfer and funding programs in disaster prone countries and their links to risk mitigation. They also deal with the cognitive and political economy issues that are likely to arise and ways to accommodate them.en-USCC BY 3.0 IGOACCOUNTINGANALYTICAL APPROACHBONDSCANCERCATASTROPHE LOSSCATASTROPHESCATASTROPHIC RISKSCONCEPTUAL FRAMEWORKCONSUMERSCONTINGENT LIABILITIESCONTRACTUAL SAVINGSCOST OF CAPITALDEBTDEVELOPED COUNTRIESDISASTER ASSISTANCEDISASTER INFORMATIONDISASTER MITIGATIONDISASTER PRONE COUNTRIESDISASTER RECONSTRUCTIONDISASTER RELIEFDISASTER RESPONSEDISASTERSEARTHQUAKESECONOMIC ACTIVITYECONOMIC CONSEQUENCESECONOMIC GROWTHECONOMIC IMPACTECONOMIC INCENTIVESEMERGING MARKETSEXCHANGE RATESEXPENDITURESFLOOD INSURANCEFLOOD PRONE AREASFLOOD VICTIMSFLOODINGFLOODSHEALTH SERVICESHOUSINGINCOMEINFLATIONINSURANCEINSURANCE COMPANIESINSURANCE COVERAGEINSURANCE MARKETSINSURANCE POOLSINSURANCE PREMIUMSINSURANCE PRODUCTSINSURANCE SYSTEMINSURANCE SYSTEMSINSURERSLAWSLEGISLATIONMANDATESMARKET INSTRUMENTSMARKET RISKMARKET RISK MANAGEMENTMARKET VALUEMITIGATION MEASURESMULTILATERAL DEVELOPMENT BANKSNATURAL DISASTERSNATURAL HAZARDSPENALTIESPOLICYHOLDERSPOLITICAL ECONOMYPRIVATE INSURANCEPRIVATE INSURANCE COMPANIESPRIVATE REINSURANCEPROGRAMSPROPERTY RIGHTSPUBLIC SERVICESRATESREINSURANCEREINSURANCE COMPANIESREINSURANCE MARKETSREINSURERSRELIEFRESERVESRESOURCE ALLOCATIONRETIREMENTRISK ANALYSISRISK ASSESSMENTRISK MANAGEMENTRISK MEASUREMENTRISK MITIGATIONRISK PREMIUMRISK REDUCTIONRISK TRANSFERSAFETYTECHNICAL ASSISTANCETENTSTERRORISMUNDERWRITINGURBAN DEVELOPMENTVOLCANIC ERUPTIONS NATURAL DISASTERSRISK MANAGEMENTCATASTROPHE LOSSCATASTROPHIC RISKSRISKRISK TRANSFERECONOMIESPOLITICAL ECONOMYWorld Bank10.1596/1813-9450-3278