The Role of Insurance in Promoting Resilience

Recent flooding in West Virginia is estimated to have damaged or destroyed more than 1,200 homes and claimed more than 20 lives. Unfortunately, only about 5 percent of households in West Virginia had flood insurance.  Over the last five years, all 50 states have experienced floods. Worldwide, floods are the most costly natural disaster and have affected the largest number of people. Flood events are predicted to increase in frequency and/or severity in certain locations as the climate warms, requiring a new level of understanding and awareness about how communities and households can be more resilient…

Disaster resilience is the key

The flood situation has worsened in several districts across the country as many rivers continued to overflow over the red mark. Especially the northern region of the country is badly hit. Flood in Bangladesh is the most frequently occurring natural calamity. It’s a bleak reality that the people of this country have learnt to accept. But as floods in Bangladesh repeats every other year we should adopt preventive measures and resort to stand-in plans for minimizing its detrimental effects.

Rather alarmingly, the timing and margin of floods are becoming abrupt and lengthier. In short, it is affecting more people and destroying vast expanses of croplands directly. Reportedly, some more 50,000 people of 50 villages of the flood-hit unions were marooned in the last few days. Due to adverse negative effects of climate change coupled…