In a blog post published on the World Bank Group's Voices and on Huffington Post, Gloria Grandolini, Senior Director of Finance & Markets Global Practice at the World Bank Group, wrote that market-based instruments – such as insurance ― can act as shock absorbers in case of natural disaster, helping countries around the world avoid the worst of a crisis’ financial impact. Ms. Grandolini also lists five reasons why investing in pre-crisis financial risk management can ease post-disaster recovery needs. 

As part of the World Bank Group’s Finance & Markets Global Practice, the Global Index Insurance Facility (GIIF) works to expand the use of index insurance as a risk management tool in agriculture, food security and disaster risk reduction. "Insurance delivers capital to the places where it’s most needed, at the moment when it will be most effective. By putting a price on it, insurance also incentivizes communities to better manage and reduce risk," Ms. Grandolini explained in the blog. 

To read the blog, please click here.