This chapter focuses on the distribution of disaster costs and benefits over both the short and long run, and looks at the humanitarian consequences of earthquakes, floods, drought, hurricanes and other natural hazards. The chapter discusses the rise of financial instruments such as disaster-risk insurance and risk-linked securities, which transfer disaster costs onto global capital markets. It examines the political-economy constraints that prevent the scaling-up of such financial products, and questions the role of public-private partnerships in overcoming these barriers.
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