BANGKOK, 3 March 2017 – The ASEAN Disaster Risk Financing and Insurance (DRFI) Partnership Forum was organised on 3 March to be a platform to share experiences and best practices on risk assessment, modeling and pooling; and identify other key areas for collaboration in the area of risk financing and risk transfer.
“This Partnership Forum is a much needed occasion for the discussion of current and emerging issues and solutions on how ASEAN can enhance its economic and financial resilience to disasters,” said Mr. Ho Quang Trung, Director for Market Integration Directorate, in his keynote speech.
The Partnership Forum provided the opportunity for different partners to discuss their respective initiatives in sovereign risk financing, such as flood risk insurance pooling for Cambodia, Lao PDR and Myanmar; city-level disaster risk financing solutions in Indonesia, Philippines and Viet Nam; risk modelling initiatives; and public-private partnerships in risk financing, and lessons learnt and best practices on establishing successful regional catastrophe risk pools.
The Forum was participated by representatives from ASEAN finance ministry, insurance commission, disaster management agency, civil society and international development organisations. Organisations such as the World Bank, ASEAN Insurance Council, Asian Development Bank, Asian Disaster Preparedness Center, AIR Worldwide, OASIS, Loss Modelling Framework, OXFAM, UNDP, FAO, and GIZ participated in the Forum.
This press release was first published by ASEAN Secretariat News.