Planning, right financial products can help governments address potential risk of a disaster to budgets: CDRI’s Prothi

Risk transfer instruments can offer cost-effective alternatives to measures aimed at mitigating significant long-term climate threats to the economy, said Amit Prothi, director general of the Coalition for Disaster Resilient Infrastructure (CDRI). CDRI, a multilateral organization based in New Delhi, was launched by Prime Minister Narendra Modi at the 2019 United Nations (UN) Climate Action…

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Disasters cost billions—but who pays the price?

The recent California wildfires have reignited global concerns about climate change and its role in intensifying natural disasters. Beyond the immediate devastation, they have also highlighted a growing crisis in the insurance industry. It is the rise of insurance deserts—regions where access to insurance becomes scarce or nonexistent due to extreme risk and unsustainable losses. …

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