Amid escalating disaster losses in the region, Asia’s developing economies urgently need to build their resilience through better planning, setting aside government budget, and encouraging insurance, according to research by the Asian Development Bank (ADB).
“Four out of every five people affected by natural hazards live in Asia,” said ADB chief economist Yasuyuki Sawada in Asian Development Outlook (ADO) 2019, the international institution’s flagship economic publication. “Asia has led the way on disaster risk reduction efforts in recent years, but more action is needed to tackle both vulnerability and responses at the national and the community level.”
You've reached your limit - Register for free now for unlimited access
To read the full story, and get unlimited access to Insurance Business website content, just register for free now. GET STARTED HERE
Already a website member? Log in below.