This presentation on “Policy Recommendation for Disaster Management” was shared by Mr. Nirmal Adhikari during a National Dialogue on Disaster Management Policies. It incorporates the current state of the insurance industry in Nepal, highlighting its shortcomings and challenges states that approximately 44.5% of the total population is involved in insurance and emphasizes Risk Sensitive Premium fixation to include a larger population in insurance.
The presenter put his thoughts on disaster management and insurance, highlighting several key points. To strengthen disaster resilience, he suggested that local, provincial, and district-level disaster funds should be actively utilized in disaster insurance efforts. The presentation also emphasizes the pivotal role of insurance in managing production, employment, and business stability during and after disasters. It further introduces the concept of the Sovereign Liabilities First Loss Risk Layering Approach as a means to enhance disaster insurance effectiveness. Additionally, he stressed the importance of finalizing the completion of structures with insurance coverage, underscoring the need to incorporate insurance into pre-disaster preparations to boost DRR. Mr. Adhikari made a compelling case for the inclusion of health insurance within the National Insurance Act, asserting that comprehensive disaster risk reduction strategies must encompass health insurance to provide holistic protection for communities.
Mr. Nirmal Adhikari