Examines the impact of natural catastrophes on government budgets and economic performance.
The paper shows that insurance:
- can lower the economic and fiscal costs of natural disasters
- transfer risk from taxpayers
- speed recovery
The purpose of the paper is:
- to support government efforts to help communities and citizens protect themselves from the effects of natural catastrophes
- to promote a sound disaster risk management culture where natural disaster costs borne by taxpayers are minimized
"Reducing the fiscal and economic impact of disasters" (PDF)