The main objectives of this study have been two-fold. On the one hand, the study has attempted to establish the extent of financial vulnerability of governments and households to natural hazards in ten countries of South Eastern Europe by examining:
The financial capacity of the EU to assist SEE countries in the case of a major disaster caused by the impact of natural hazards. The ability of individual SEE countries to cover the costs of relief, reconstruction and recovery efforts from their own fiscal resources. The extent of disaster insurance coverage provided by the private insurance industry in the region.
On the other hand, the study aims to outline a range of practical solutions and policy recommendations for the problem of the growing financial exposure from disasters caused by the impact of natural hazards for governments, businesses and individuals.
The study is intended for four principal audiences: government officials in SEE countries; World Bank staff involved in disaster risk financing and reconstruction projects; the international development community; and the private insurance and reinsurance industry. This study was developed as part of the South Eastern Europe Disaster Risk Mitigation and Adaptation Programme (SEEDRMAP) focus area iii: financing for disaster losses, reconstruction and recovery, and disaster risk transfer (disaster insurance). The report concludes with policy recommendations.