Pacific Alliance countries analyze the hydrometeorological risk impacts
Pacific Alliance countries analyze the hydrometeorological risk impacts Image In 2015, fifty-two people died and around 180,000 were affected in Chile by a flood in the Atacama, Antofagasta and Coquimbo regions. Losses from this event reached around US$ 2 billion and the reconstruction took 5 years. This high cost would have been mitigated if the country had an in-force risk transfer instrument that allowed to transfer the financial impact of a particular risk to a third party like capital markets, insurance, reinsurance, among others. These instruments aim to transfer risks cost-efficiently ...
Source: worldbank.org