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Japan partners with ASEAN countries on disaster insurance

Source(s): Nikkei Asian Review, Nikkei Inc
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Japan will work with Southeast Asian nations like Laos and Myanmar to provide immediate financing after natural disasters so that recovery funds can be quickly distributed.

The Southeast Asia Disaster Risk Insurance Facility will be announced in May at the annual meeting of the Asian Development Bank's board of governors. Operations are slated to begin in 2019.

Participating countries will make the insurance payouts while Japan provides initial support through funding. The facility will invest funds it has accumulated and take out reinsurance from private insurers in Japan and elsewhere.

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Themes Risk identification and assessment
Country and region Cambodia Japan Lao People's Democratic Republic Myanmar
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