Risk Reduction and Adaptations: Managing Urban risks
This issue by southasiadisasters.net looks at how “Disasters are considered to be great levellers. For they strike without discriminating between the rich and poor or the powerful and plebeian. However, the vulnerability to a hazard is often driven by social, economic, political and cultural conditions. Since, the risk of a disaster is a function of hazard, vulnerability and exposure; therefore it can be summed up that people of lower socio-economic status bear a greater brunt of these risks as compared to their more affluent counterparts. The threat of climate change has further compounded the vulnerability of these marginalized communities.
Such communities are often dependent on small and informal business units to earn their living. Since the majority of such business units do not posses any recovery mechanisms, they invariably fail to recover in post-disaster situations. This issue of Southasiadisasters.net focuses on the concept of disaster microinsurance as an effective risk transfer mechanism for such informal and small scale businesses in urban settings. In the face of the growing threat of climate change, disaster microinsurance can also be viewed as a means of effective adaptation.”