Expanding and Improving Disaster Risk Financing Insurance (DRFI)
Project Detail
Category:
Cluster:
Project Leader:
Dr. Saut Sagala
Team Members:
Wewin Wira Cornelius Wahid, Rayinda Putri, Alifa Zalfa
Project Partner/Client:
The Center for Disaster Preparedness (CDP)
Year:
2024
Author:
admin
Background Study
Since 2018, Disaster Risk Financing and Insurance (DRFI) has gained increasing traction in Indonesia as a crucial tool for bridging the funding gap after major disasters. The devastating impacts of events like the 2004 Indian Ocean tsunami and the 2018 earthquakes in Central Sulawesi and Lombok exposed the limitations of relying solely on post-disaster government allocations. While government funds provided some relief, ranging from US$90 million to US$750 million between 2014 and 2018, these fell significantly short of covering the actual losses incurred. This stark shortfall underscores the urgent need for a more comprehensive DRFI strategy that is seamlessly integrated with social protection programs to effectively support disaster-affected communities.
Aims and Objectives
- To identify key constraints to DRFI implementation in Indonesia and recommend key strategies informing the future DRFI strategy.
- To identify key changes needed to unlock the full potential of DRFI, ensuring timely and effective social assistance delivery during disaster response, through the current planned ASP framework.
Methodology and Study Approach
- Qualitative (Key Informant Interview, Desk Study),
- Quantitative
Team Members
Dr. Irene Sondang, Priskila Agatha Sulaiman, Wewin Wira Cornelius Wahid, Rayinda Putri, Alifa Zalfa