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ENH
ANCI
NG
EN
HAN
CIN
G
RIS
K AW
AREN
ESS
AND
CAP
ABIL
ITY
RIS
K AW
AREN
ESS
AND
CAP
ABIL
ITY
Flor
e-A
nn
e M
essy
A
dmin
istr
ator
OEC
D F
inan
cial
Aff
airs
Div
isio
n
Con
fere
nce
of
the
OEC
D I
nte
rnat
ion
al N
etw
ork
on t
he
Man
agem
ent
of L
arge
-Sca
le C
atas
trop
hes
26
-27
Feb
ruar
y 2
00
7, H
yder
abad
WH
AT I
S “R
ISK”
?C
once
pt o
f ri
sk c
ombi
nes
ou
r u
nde
rsta
ndi
ng
of t
he
likel
ihoo
d of
a h
azar
dous
eve
ntoc
curr
ing,
w
ith
an
asse
ssm
ent
of
its
impa
ct.
Impa
ct
of
a h
azar
dou
s ev
ent
depe
nds
on
th
e el
emen
ts a
t ri
sk
-exp
osur
e-,
such
as
popu
lati
on
or
build
ings
, an
d th
eir
asso
ciat
ed
vuln
erab
ility
to
dam
age
or c
han
ge a
s a
resu
lt o
f th
e ev
ent.
Ris
k ca
n m
ean
dif
fere
nt
thin
gs
to d
iffe
ren
t pe
ople
OU
TLIN
EI.
Diff
icul
ties
in P
redi
ctin
g an
d As
sess
ing
Gro
win
g H
azar
d Ex
posu
rean
d Vu
lner
abili
ties
II.
Impo
rtan
ce o
f an
d Ch
alle
nges
in E
nhan
cing
Aw
aren
ess
on a
nd
Resp
onsi
vene
ss t
o Po
tent
ial I
mpa
cts
of L
arge
-Sca
le D
isas
ters
III.
Wha
t ca
n be
don
e?
-O
ECD
Goo
d Pr
actic
es f
or E
nhan
ced
Ris
k Aw
aren
ess
and
Educ
atio
n on
Ins
uran
ce I
ssue
s -
Inte
rnat
iona
l End
eavo
urs
to I
mpr
ove
Ris
k Aw
aren
ess
and
Lite
racy
IV.
Polic
y Co
nclu
sion
s an
d Fu
ture
OEC
D W
ork
on R
isk
Awar
enes
s
I.D
iffic
ultie
s in
Pre
dict
ing
and
Asse
ssin
g G
row
ing
Haz
ard
Expo
sure
and
Vul
nera
bilit
y to
La
rge-
Scal
e D
isas
ters
(1)
Emer
gen
ce o
f a
“ris
k so
ciet
y”:
Incr
easi
ng
freq
uen
cy a
nd
seve
rity
of
larg
e-sc
ale
risk
s
Mod
erni
zati
on a
nd g
loba
lizat
ion
tren
ds s
ugge
st a
n ex
pans
ion
and
incr
ease
d fr
eque
ncy
of a
wid
e ra
nge
of t
radi
tion
al a
nd e
mer
ging
di
sast
ers
wit
h po
tent
ially
dev
asta
ting
con
sequ
ence
s on
the
sm
ooth
fu
ncti
onin
g of
the
eco
nom
y, s
ocie
ty a
nd in
divi
dual
s’ w
ellb
eing
Mor
e se
vere
nat
ura
l cat
astr
oph
es a
nd
un
cert
ain
con
seq
uen
ces
of g
lob
al
war
min
g
Ind
ust
rial
an
d t
ech
nol
ogic
al d
isas
ters
Terr
oris
m a
ttac
ks o
n a
gre
ater
sca
le
Dem
ogra
phic
evo
luti
ons
Kn
own
an
d e
mer
gin
g p
ande
mic
s
(2)
Dif
ficu
ltie
s in
Ass
essi
ng
expo
sure
an
d vu
lner
abili
ty t
o h
azar
ds
On
a gl
obal
sca
le, a
sses
sing
ris
k ex
posu
re is
cha
lleng
ing
even
for
tech
nica
l exp
erts
Eval
uatin
g th
e pr
ecis
e pa
rtic
ular
con
sequ
ence
s/da
mag
es
pote
ntia
lly s
tem
min
g fr
om la
rge-
scal
e ris
ks is
eve
n m
ore
daun
ting
for
non
expe
rt h
ouse
hold
s an
d co
rpor
atio
ns
At t
he s
ame
time,
indi
vidu
als
:•A
re m
ore
expo
sed
and
vuln
erab
le to
the
pote
ntia
lly d
ram
atic
co
nseq
uenc
es o
f dis
aste
rs
•Hav
e gr
eate
r ne
eds
to m
ake
impo
rtan
t dec
isio
ns a
s re
gard
s m
itiga
tion
mea
sure
s an
d co
vera
ge
II.
Impo
rtan
ce o
f En
hanc
ing
Awar
enes
s on
and
Res
pons
iven
ess
to
Pote
ntia
l Im
pact
s of
Lar
ge-S
cale
Dis
aste
rs
(1)
Gap
s in
ris
k co
vera
ge/m
itig
atio
n
Low
leve
l of
cove
rage
/pre
vent
ion
of in
divi
dual
s an
d th
eir
prop
erty
in
OEC
D f
or c
erta
in r
isks
and
in e
mer
ging
eco
nom
ies
Dif
fere
nce
s be
twee
n g
loba
l dam
ages
an
d in
sure
d lo
sses
an
d be
twee
n
Emer
gin
g an
d O
ECD
cou
ntr
ies
Un
der
cove
rag
e e
ven
in r
isk
pron
e ar
ea
Vu
lner
able
gro
up
s ar
e m
ore
at r
isk
Ris
k as
sess
men
t pr
oces
ses
in c
orpo
ratio
nsco
uld
be f
urth
er
stre
ngth
ened
In
adeq
uate
cov
erag
e: u
nder
cov
erag
e of
ass
ets
at r
isks
Incr
ease
d co
sts
of d
isas
ters
for
indi
vidu
als,
the
ove
rall
econ
omy
and
com
mun
ity a
nd g
over
nmen
ts m
ay ju
stify
soc
ial i
nter
vent
ion
toen
hanc
e ris
k aw
aren
ess
and
prom
ote
miti
gatio
n m
easu
res
(2)
Rat
ion
ale
for
thes
e ga
ps :
Obj
ecti
ve v
s.Su
bjec
tive
rea
son
s
Surv
ey b
y Ti
me
Mag
azin
e in
200
6 in
the
US
:
84%
of
Amer
ican
s fe
lt th
at t
hey
wer
e no
t w
ell p
repa
red
shou
ld a
nat
ural
di
sast
er
strik
e th
eir
com
mun
ity.
Aske
d w
hy t
hey
did
not
take
ste
ps t
o pr
epar
e an
d ge
t co
vera
ge, t
he
resp
onde
nts
tend
ed t
o de
ny t
hat
they
wer
e at
ris
ks:
49%
did
not
thi
nk t
hey
live
in a
n ar
ea a
t ris
k -r
isk
deni
al44
% d
id n
ot k
now
how
to
prep
are
-la
ck o
f in
form
atio
n32
% r
espo
nden
ts d
id n
ot b
elie
ve t
hat
prep
arin
g w
ould
hel
p –
lack
of
conf
iden
ce in
pro
pose
d so
luti
ons
27 %
did
not
hav
e tim
e to
pre
pare
-im
plie
d co
st/t
ime
of p
reve
ntiv
e m
easu
res-
“myo
pia”
Indi
vidu
als
do n
ot n
eces
saril
y m
ake
deci
sion
s an
d ac
t w
ith a
vie
w t
o se
nsib
le a
nd r
atio
nal r
easo
ns
(2)
Rat
ion
ale
for
thes
e ga
ps :
Insu
ffic
ien
tin
form
atio
n a
nd
awar
enes
s?
Gen
eral
lack
of
awar
enes
s an
d as
sess
men
t of
m
ost
impo
rtan
t ris
k ex
posu
res
and
cove
rage
ne
eds
Insu
ffic
ient
aw
aren
ess
and
unde
rsta
ndin
g of
the
pr
otec
tion
offe
red
by p
ublic
and
/or
priv
ate
insu
ranc
e sc
hem
es a
gain
st la
rge-
scal
e di
sast
ers
(2)
Rat
ion
ale
for
thes
e ga
ps:
Pas
sive
beh
avio
urs
as r
egar
ds r
isks
Pass
ive
beha
viou
r as
reg
ards
cov
erag
e an
d m
itiga
tion
mea
sure
s
Lack
of
trus
t an
d co
nfid
ence
in in
stitu
tions
pro
vidi
ng
cove
rage
and
in e
x-an
te s
olut
ions
Cons
umer
s’ m
yopi
a an
d pr
ocra
stin
atio
nvs
. “i
nsur
ance
/pre
vent
ive
cultu
re”
Relia
nce
on e
x-po
st a
ssis
tanc
e fr
om t
he S
tate
(3)
Ch
alle
nge
s of
com
mu
nic
atio
n a
nd
inte
rven
tion
on
ris
k
2 pu
rpos
es:
Appr
opria
te in
form
atio
n on
ris
k: li
kelih
ood
of d
isas
ters
and
the
ir co
nseq
uenc
es in
an
unce
rtai
n en
viro
nmen
t Ch
angi
ng in
divi
dual
s an
d co
rpor
atio
ns’
beha
viou
rs t
owar
ds r
isks
III.
Wha
t ca
n be
don
e?
OEC
D G
ood
Prac
tices
for
En
hanc
ed R
isk
Awar
enes
s an
d Ed
ucat
ion
on I
nsur
ance
Iss
ues
OEC
D P
roje
ct o
n F
inan
cial
Edu
cati
onan
d R
ole
in R
aisi
ng
Ris
k A
war
enes
s
Mai
n o
utc
omes
of
OEC
D C
ompr
ehen
sive
Fin
anci
al E
duca
tion
proj
ect
star
ted
in 2
003
:
Dev
elop
men
t of
a R
ecom
men
dati
on o
n P
rin
cipl
es a
nd
Goo
d pr
acti
ces
for
Rec
omm
enda
tion
on
Pri
nci
ples
an
d G
ood
prac
tice
s fo
r Fi
nan
cial
Ed
uca
tion
an
d A
war
enes
sFi
nan
cial
Ed
uca
tion
an
d A
war
enes
s(J
un
e 2
00
5)
Pu
blic
atio
n o
f th
e fi
rst
maj
or in
tern
atio
nal
stu
dy o
n f
inan
cial
edu
cati
on
Impr
ovin
g Fi
nanc
ial L
iter
acy:
Ana
lysi
s of
Iss
ues
and
Polic
ies
Impr
ovin
g Fi
nanc
ial L
iter
acy:
Ana
lysi
s of
Iss
ues
and
Polic
ies
((Nov
embe
r 2
00
5).
Wor
k of
th
e In
sura
nce
an
d P
riva
te P
ensi
ons
Com
mit
tee
focu
sed
on
asse
ssin
g, s
urv
eyin
g an
d el
abor
atin
g po
licy
guid
ance
rel
ativ
e to
risk
aw
aren
ess
and
edu
cati
on o
n in
sura
nce
issu
es
Elab
orat
ion
and
fin
alis
atio
n o
f a
set
of G
ood
Prac
tice
s fo
r En
hanc
ed R
isk
Aw
aren
ess
and
Educ
atio
n on
Ins
uran
ce I
ssue
s
Rat
ion
ale:
•In
crea
sed
indi
vidu
als’
expo
sure
an
d re
spon
sibi
lity
for
man
agin
g di
vers
e ri
sks
(i.e
. lar
ge-s
cale
, lon
gevi
ty a
nd
hea
lth
-rel
ated
ris
ks)
Impo
rtan
ce o
f ra
isin
g aw
aren
ess
on t
he
impo
rtan
ce o
f se
ekin
g pr
otec
tion
aga
inst
th
ese
risk
s in
clu
ding
th
rou
gh
priv
ate
fin
anci
al a
nd
insu
ran
ce v
ehic
les
•C
ompl
exit
y an
d di
vers
ity
of f
inan
cial
(in
clu
din
g pe
nsi
on p
rodu
cts)
an
d in
sura
nce
pro
duct
s to
mee
t th
ese
nee
ds f
or c
over
age
Impo
rtan
ce o
f im
prov
ing
edu
cati
on a
nd
capa
bilit
y on
fi
nan
cial
and
insu
ran
ce p
rodu
cts
Ou
tlin
e :
1)
Obj
ecti
ves
and
Fram
ewor
k
2)
Rol
e an
d re
spon
sibi
litie
s of
mai
n s
take
hol
ders
Gov
ern
men
tIn
sura
nce
mar
ket
play
ers
Oth
er s
ocia
l an
d bu
sin
ess
part
ner
3)
Pro
gram
mes
an
d m
ean
s
(1)
Cor
e O
bjec
tive
s of
th
e O
ECD
Goo
d pr
acti
ces
for
Enh
ance
d R
isk
Aw
aren
ess
and
Educ
atio
n o
n I
nsu
ran
ce I
ssu
es
1.H
eigh
teni
ng a
war
enes
s an
d re
spon
sibi
lity
vis-
à-vi
s th
e po
ten
tial
ris
ksto
whi
ch in
divi
dual
s ar
e ex
pose
d an
d th
e m
ean
s by
wh
ich
insu
ran
ce c
an c
over
th
em
2.En
ablin
g ci
tize
ns
to d
evel
op t
he
know
ledg
e, u
nde
rsta
ndi
ng,
ca
paci
ties
an
d co
nfi
den
ce n
eede
dto
ade
quat
ely
appr
aise
and
un
ders
tand
the
pol
icie
s th
ey r
equi
re, t
o kn
ow w
here
to
look
for
ad
ditio
nal i
nfor
mat
ion
and
obje
ctiv
e ad
vice
s if
they
nee
d it,
to
mak
e in
form
ed d
ecis
ion
sab
out
how
to
prot
ect
them
selv
es a
nd
thei
r re
lativ
es a
nd t
o ad
opt
a pr
oact
ive
beh
avio
ur
as r
egar
ds
thei
r ri
sk e
xpos
ure
an
d in
sura
nce
cov
erag
e
(2)
Rol
es o
f m
ain
sta
keh
olde
rs
Pu
blic
au
thor
itie
s:
vario
us m
inis
trie
s an
d ag
enci
esAs
sess
men
t of
ris
k–ex
posu
re a
nd m
appi
ng o
f ris
k-pr
one
area
Surv
ey o
f in
divi
dual
s’ n
eeds
for
incr
ease
d ris
k aw
aren
ess
and
liter
acy
Educ
atio
n an
d in
form
atio
n of
indi
vidu
als
on r
isk,
pre
vent
ive
mea
sure
s an
d ex
istin
g co
vera
geD
evel
opm
ent
of b
road
aw
aren
ess
cam
paig
n al
so t
arge
ting
vuln
erab
le g
roup
s an
d ad
apte
d to
var
ious
pub
lic n
eeds
Coor
dina
tion
of o
ther
sta
keho
lder
s’ in
itiat
ives
and
the
med
iaReg
ulat
ion:
pos
sibl
e in
trod
uctio
n of
com
puls
ory
insu
ranc
e (a
t af
ford
able
rat
e) f
or s
ever
e ris
ks in
ris
k-pr
one
area
and
/or
for
vuln
erab
le g
roup
s As
sess
men
t of
inte
rven
tions
and
initi
ativ
es
(2)
Rol
es o
f m
ain
sta
keh
olde
rs
The
insu
ran
ce in
dust
ry:
insu
rers
/ban
cass
urer
s an
d in
term
edia
ries
As
sess
men
t of
and
Inf
orm
atio
n on
indi
vidu
als’
and
corp
orat
ions
’ris
k ex
posu
re
Prom
otio
n an
d de
velo
pmen
t of
pre
vent
ion
cam
paig
ns a
imed
at
rais
ing
risk
awar
enes
s ag
ains
t sp
ecifi
c ris
ks
A w
ide
rang
e of
oth
er s
ocia
l an
d ec
onom
ic
stak
ehol
ders
an
d lo
cal n
etw
orks
Indi
vidu
als’
an
d co
rpor
atio
ns’
res
pon
sibi
lity
(3)
Mea
ns
and
Pro
gram
mes
Ass
essi
ng
and
targ
etin
g’
Ass
essi
ng
and
targ
etin
g’
indi
vidu
als/
corp
orat
ion
s in
divi
dual
s/co
rpor
atio
ns
nee
ds a
s re
gard
s ri
skn
eeds
as
rega
rds
risk
Sele
cted
ris
ks
Vu
lner
able
gro
ups
Type
s an
d co
nte
nt
of
the
info
rmat
ion
Pas
sive
beh
avio
urs
Dev
elop
ing
awar
enes
s an
d lit
erac
y on
ris
k an
d ex
isti
ng
alte
rnat
ive
cove
rage
s
Educ
atin
g th
e ed
ucat
ors
Inte
grat
ing
basi
c ri
sk
prev
enti
on a
sses
smen
t an
d in
sura
nce
not
ion
s in
tosc
hoo
l pro
gram
mes
an
d cu
rric
ula
On
-goi
ng/
lon
g-te
rm
acti
ons/
trai
nin
g
Pos
sibl
e ca
se f
or
com
puls
ory
cove
rage
Usi
ng
a va
riet
y of
ta
ilore
d to
ols
Pap
er m
ater
ials
Inte
rnet
/Web
site
Bro
ad m
edia
ca
mpa
ign
s
Loca
l net
wor
kan
d kn
owle
dge
Eval
uat
ing
init
iati
ves’
Ef
fect
iven
ess
and
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Pre
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Mea
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Pu
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larg
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Scho
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reve
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pan-
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Ins
uran
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ssoc
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Jap
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“Exp
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vent
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Dis
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ays
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trod
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ries
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ook
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Oth
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ossi
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netw
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You
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elco
me
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hare
with
us
succ
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xper
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initi
ativ
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roje
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ting
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aisi
ng r
isk
awar
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s an
d ed
ucat
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insu
ranc
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over
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our
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