Global experts to discuss disaster insurance coverage

April 29 2015 by InsuranceAsia News Staff

Experts from around the globe in the fields of insurance, credit and finance and disaster risk mitigation are expected to attend the Asia Pacific Economic Cooperation (APEC) disaster risk finance meeting in the Philippines.

The two-day meeting in Bacolod City will tackle fiscal measures that will enable member countries to be more resilient in the face of natural disasters. Among the measures will be micro insurance financing.

A statement released by organizers said the meeting would discuss strategies to widen the penetration of micro-insurance products, which are seen effective in raising resiliency of low-income households and micro enterprises to natural disasters.

Philippine Finance Secretary Cesar Purisima said the focus on disaster risk finance during the APEC meeting was based on the experiences of member nations, including the Philippines, which have been hit by calamities recently.

He said the region must have solid finance structures to immediately stand back up after natural disasters.

MORE FROM: Legal/Regulatory