Highlights This paper analyzes how a portion of the current disaster risk finance architecture is serving developing countries. We focus on the three regional risk pools— CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) (referred to throughout as “CCRIF”); African Risk Capacity (ARC); and Pacific Catastrophe Risk Insurance Company (PCRIC)—that offer parametric disaster insurance to developing countries. Disaster risk finance instruments, including insurance, should be deployed in combination to address the various “layers” of risk, but few countries appear to be following

Disasters affect the poor and vulnerable people in the developing world adversely. These people suffer disproportionately due to their higher vulnerability and exposure and lower ability to cope and recover. The impact of climate change is further amplifying this vulnerability and addressing this requires a multi-layered and multi-stakeholder approach. The InsuResilience Global Partnership brings together stakeholders from the Vulnerable 20 group (V20) and the G20 countries, multilateral development organizations, private sector, civil society organizations and academia. This partnership works