the largest amount of reported economic losses; however, at least 40% of these losses are uninsured, even in the regions with high insurance penetration . Government involvement in insurance schemes is associated with higher penetration rates of the general population . While some, predominantly high-income countries can make use of disaster contingency funds or dedicated budget items, these do not exist or are not well endowed to adequately support relief, recovery and reconstruction . To help stabilise public finance in regions with little market-based insurance coverage and fiscal response mechanisms, regional public insurance pools have been set up with donor assistance, such as in the Caribbean, Africa and the Pacific for flood and droughts .
IPCC
Climate Change 2022: Impacts, Adaptation and Vulnerability
IPCC Report