The workshop aimed to gain a comprehensive understanding of the Vietnamese context and identify the possible interventions and technical support needed for the country, which has been selected as one of the first 10 countries to participate in a new UNDP global initiative under its new Insurance and Risk Finance Facility (IRFF) to make inclusive insurance and risk financing central to development. The UNDP workshop has seen in-depth discussions on an upcoming diagnostic study on disaster risk finance and inclusive insurance This new initiative has been designed jointly with the Insurance Development Forum (IDF) and is financially supported by the German government. The UNDP will also work with the InsuResilience Solutions Fund (ISF) and global insurance industry partners to develop new disaster risk financing and insurance products to reduce the negative impacts of disasters. Risk financing and inclusive insurance are important to protect lives, livelihoods, infrastructure, and homes from the impact of disasters, but also to provide coverage for sustainably protecting healthcare and education services, as well as employment, and agricultural supply chains. However, little attention has been paid to risk financing at the global and country levels. There is, for example, a huge protection gap in developing countries (including… Read full this story
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