Last year more than 83 million people in low and middle income countries were affected by natural disasters. We may not know when or where the next disaster will strike, but we know it will. So why do we still treat disasters like surprises?
International appeals are generous, but they are usually launched only after disaster strikes, and funds and supplies are slow to arrive. A new CGD report urges a different approach: make disasters predictable. The report looks at how we can pre-arrange disaster response funding using the principles and practices of insurance, so that countries get the money as soon as they need it and donors actually pay less in the long run.
We launched the report at a recent CGD event with working group co-chairs Stefan Dercon—Chief Econmist at DFID, professor of economics at Oxford Univeristy, and co-author of a book called Dull Disasters—and Owen Barder, CGD vice president and director of our Europe program. They were joined by two members of the working group: Alice Albright, head of the Global Partnership for Education, and Rowan Douglas of insurance group Willis Towers Watson.
Today's podcast brings you a flavor of that event.