The SEADRIF initiative

Building ASEAN’s financial resilience against climate shocks and disasters

The Southeast Asia Disaster Risk Insurance Facility, SEADRIF, is a regional platform that will build ASEAN’s financial resilience against climate shocks and disasters. With the help of SEADRIF, member countries can avoid a disaster from turning into a crisis.

Committed to being better prepared

The Association of Southeast Asian Nations (ASEAN) countries, home to more than 650 million people, are highly prone to disaster and climate shocks.

Floods, tropical storms, droughts, earthquakes, and tsunamis have left severe physical, economic, and human impacts in the region.

Through SEADRIF, ASEAN countries are taking leadership in building a joint mechanism to enhance preparedness for climate and disaster risks.

Why we need
SEADRIF

In middle or low-income nations, 90% of disaster losses are uninsured. Envision knowing in advance where the money to pay for emergency assistance and reconstruction will come from. With SEADRIF, this vision can become a reality.

Why we can't wait

Governments cannot afford to wait until a disaster strikes to start looking for the funds to respond. Without sufficient financial planning, disasters force countries to take away funds meant for investments in education, health and infrastructure.

Climate change increases the frequency and intensity of extreme weather events such as floods, typhoons, and droughts. Compounding shocks from natural disasters and the COVID-19 pandemic will put further strains on already limited fiscal space.

Considering regional
diversity and needs

Southeast Asian countries are at different stages of development. But whatever their primary concerns, all suffer when hit by a natural disaster.

Countries with higher levels of economic development and rapid growth are often concerned with large losses caused by economic disruption and infrastructure damage.

Countries with large, vulnerable, poor and often rural populations are looking for ways to reduce the impact on households and livelihoods.

Recognizing that diverse needs require diverse solutions, SEADRIF is set up to develop programs and products tailored to each country’s needs.

It will also serve as a platform to provide benefits beyond faster, more reliable access to money.

More
about
SEADRIF

SEADRIF is a regional platform that provides participating nations with advisory and financial services to increase preparedness, resilience and cooperation in response to climate and disaster risks.
Learn more

A primer on how disaster risk financing and insurance works

Watch this video to learn how Disaster Risk Finance Initiatives help everyone – from this family to other stakeholders across the globe.

Latest news

SEADRIF Insurance Company Appoints Ms. Su Hoong Chang as Board Member, effective June 20, 2024
Ms. Su Hoong Chang brings a wealth of experience and insights from her work with regulatory bodies, international financial institutions,…
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SEADRIF Insurance Company Published Annual Report 2023
The SEADRIF Insurance Company has published its Annual Report for the financial year 2023. The report offers an overview of…
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SEADRIF Insurance Company appoints Gallagher Re as its reinsurance broker and risk advisor
Gallagher Re, the global reinsurance broking and advisory firm, has been selected to provide reinsurance broking and risk advisory services…
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