The Enabling Environment for Disaster Risk Financing in the Philippines

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Analyzing the Philippines' disaster preparedness, this report shows why strengthening its enabling environment and adopting a risk layering approach that includes insurance and catastrophe bonds could boost its financial resilience.

The report looks at the impact of the pandemic and recommends steps including strengthening the country's health surveillance systems and data. It explains why technology can help reduce agricultural risk and make the sector insurable. It recommends the climate-vulnerable archipelago consider developing a catastrophic risk insurance facility and encourage the private sector to use insurance as part of a multi-pronged approach to spread risk and cut disaster losses.