The Latin American and Caribbean (LAC) region is at the
centre of a perfect storm. Despite three of the top ten most
expensive natural disasters since the 1980s occurring there
according to German insurer MunichRe, many countries there have
little to no disaster risk financing mechanisms to support
recovery and rebuilding efforts after a catastrophic event.
The repair effort will often put a huge financial strain on
developing governments' balance sheets, and one they can't
afford. While Hurricane Katrina in 2005 is believed to have
caused damage of between $100 and $200 billion, the...