re:focus partners / by Shalini Vajjhala and James Rhodes
[Brookings Institution] So how can governments at all levels take a different approach to managing natural disasters?
In a new report, A Guide to Public-Sector Resilience Bond Sponsorship, my co-author James Rhodes and I highlight how Resilience Bonds can help local, state, and federal government agencies and international development banks make the leap from disaster relief to resilience. Resilience Bonds are a variation on standard catastrophe bonds that connect financial protections in the form of catastrophe insurance with investments in on-the-ground risk reduction projects, like seawalls or building retrofits.
The benefits of connecting disaster risk reduction with existing insurance programs are well proven in the insurance industry…