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Climate change has brought an additional dimension to disaster risks in the Asia-Pacific Region as it is projected to exacerbate the intensity and magnitude of various natural hazards such as storms, high-intensity rainfall events, heat waves, floods and droughts. Risk transfer has been widely advocated as one of the best means of risk mitigation across the world. In order to address additional risks brought by the impact of climate change, there is a need to reassess and re-frame the current risk reduction strategies
especially in terms of development and utilization of risk-spreading instruments within the Asia-Pacific Region. Keeping this in mind, this chapter reviews the current status of risk insurance and identifies emerging issues and experiences.
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