World Bank GroupGlobal Facility for Disaster Reduction and Recovery2015-05-202015-05-202015-06https://hdl.handle.net/10986/21920Pakistan is vulnerable to a number of adverse natural events and has experienced a wide range of disasters over the past 40 years, including floods, earthquakes, droughts, cyclones, and tsunamis. The World Bank is supporting the Government of Pakistan (GoP) in building capacity in the area of disaster risk management (DRM) in order to build resilience from both humanitarian and fiscal shocks associated with natural disasters. The World Bank is providing technical assistance to the GoP for the development of a national disaster risk financing strategy. This non-lending technical assistance aims to: (i) assess the fiscal exposure of the GoP to natural disasters; (ii) present options for the development of a national strategy to improve financial response capacity for natural disasters; and (iii) promote property catastrophe risk insurance for both public and private dwellings. Disaster risk financing and insurance (DRFI) is one of the five pillars in the proactive and strategic framework for DRM promoted by the World Bank. The World Bank has been promoting a proactive and strategic framework for DRM based on five pillars: (i) risk identification; (ii) risk reduction; (iii) preparedness; (iv) financial protection; and (v) resilient recovery. Chapter one is introduction. Chapter two presents an overview of the budget processes for the financing of natural disaster losses during each of the three post-disaster phases. Chapter three provides a preliminary financial disaster risk assessment for Pakistan, focusing particularly on the fiscal impact of natural disasters. Chapter four presents an overview of the private catastrophe insurance market; and chapter five reviews the options for future financing of natural disaster recovery and reconstruction expenditures.en-USCC BY 3.0 IGOACCESS TO CAPITALACCIDENTACCOUNTINGADMINISTRATIVE CONTROLAPPLICATIONSASSET BASEASSET MANAGERSAVALANCHESBANKSBENEFICIARIESBENEFICIARYBROKERBROKERSCAPACITY BUILDINGCAPITAL ACCOUNTSCAPITAL MARKETSCAPITALIZATIONCASH PAYMENTSCASH TRANSFERCASH TRANSFERSCATASTROPHE BONDCATASTROPHE BONDSCATASTROPHIC RISKSCIVIL DEFENCECOINSURANCECOMMERCIAL BANKSCOMMISSIONSCONSUMERSCONTINGENCY PLANSCONTINGENT LIABILITIESCONTINGENT LIABILITYCORPORATE MARKETCOVERAGECREDIT LINESCREDIT RATINGCREDIT RATING AGENCIESDAMAGESDERIVATIVESDEVELOPING COUNTRIESDEVELOPMENT BANKDISASTERDISASTER EMERGENCYDISASTER EVENTDISASTER EVENTSDISASTER INSURANCEDISASTER MANAGEMENTDISASTER RECONSTRUCTIONDISASTER RECOVERYDISASTER REDUCTIONDISASTER RELIEFDISASTER RESPONSEDISASTER RISKDISASTER RISK REDUCTIONDISBURSEMENTSDONOR COORDINATIONDROUGHTDROUGHTSEARLY WARNINGEARLY WARNING SYSTEMSEARTHQUAKEEARTHQUAKE INSURANCEEARTHQUAKE RECONSTRUCTIONEARTHQUAKESECONOMIC DEVELOPMENTEMERGENCIESEMERGENCY ASSISTANCEEMERGENCY RELIEFEMERGENCY RESPONSEEMERGENCY RESPONSE ACTIVITIESEMERGENCY SITUATIONSEXCHANGE COMMISSIONEXCHANGE RATEEXPENDITUREEXPENDITURESFARMERSFEDERAL BUDGETFINANCIAL COMPENSATIONFINANCIAL EXPOSUREFINANCIAL INSTRUMENTSFINANCIAL MANAGEMENTFINANCIAL SHOCKSFIREFIRE INSURANCEFLOODFLOODINGFLOODSFOREIGN CURRENCYGOVERNMENT EXPENDITURESHURRICANEIMPACT OF DISASTERSINSTITUTIONAL CAPACITYINSTRUMENTINSURABILITYINSURANCEINSURANCE AGENTSINSURANCE BROKERSINSURANCE COMPANIESINSURANCE COMPANYINSURANCE COVERAGEINSURANCE INDUSTRYINSURANCE MARKETINSURANCE PENETRATIONINSURANCE POLICIESINSURANCE POLICYINSURANCE PREMIUMSINSURANCE PRODUCTSINSURED LOSSESINSURERSINTERNATIONAL AGENCIESINTERNATIONAL BANKINTERNATIONAL MARKETSINVENTORYLANDSLIDESLIFE INSURANCELIFE INSURERSLIQUIDITYLOANLOAN REPAYMENTLOCAL MARKETLOCAL MARKETSLOSS RATIOMARKET DEVELOPMENTMARKET FAILUREMARKET SHAREMARKET SHARESMEDICAL SUPPLIESMICRO INSURANCEMICROFINANCEMICROFINANCE INSTITUTIONSMICROFINANCE SECTORMINIMUM CAPITAL REQUIREMENTMINIMUM CAPITAL REQUIREMENTSMITIGATIONMORTGAGEMORTGAGESNATURAL CATASTROPHENATURAL CATASTROPHESNATURAL DISASTERNATURAL DISASTERSNATURAL HAZARDNATURAL HAZARDSNEGOTIATIONSNON-LIFE INSURANCEPAYMENT SYSTEMPENSIONSPOLICYHOLDERSPORTFOLIOPREMIUM REVENUEPREMIUM REVENUESPRIVATE CAPITALPRIVATE CATASTROPHE INSURANCEPRIVATE INSURANCEPRIVATE PROPERTYPROGRAMSPROPERTY INSURANCEPUBLIC ASSETPUBLIC ASSETSPUBLIC SPENDINGRATESREGULATORY FRAMEWORKREINSURANCEREINSURANCE BROKERREINSURANCE PREMIUMSREINSURERREINSURERSRELIEFRELIEF ACTIVITIESRELIEF ASSISTANCERELIEF EFFORTSREMITTANCESREPAYMENTRESCUERESCUE SERVICESRESERVESRETURNRISK ANALYSISRISK ASSESSMENTRISK EXPOSURERISK INSURANCERISK MANAGEMENTRISK MANAGEMENT SYSTEMRISK PROFILERISK PROFILESRISK TRANSFERSAFETYSAFETY NETSECURITIESSITUATION REPORTSSOLVENCYSOVEREIGN RISKSTOCK EXCHANGESTOCKSTAXTRANCHESTRANSACTIONTRANSFER PAYMENTSTRANSPARENCYTREATIESTREATYTROPICAL CYCLONETROPICAL CYCLONESTROPICAL STORMTSUNAMITSUNAMISUNDERINSURANCEUNDERWRITINGWARReportWorld Bank10.1596/21920