ADB believes insurance mechanisms in developing AsiaPac need to be more broadly available and accessible.
There has been tremendous economic and social progress since the 1960s in Asia Pacific (AsiaPac) but the region is also vulnerable to disaster risks.
Over the years, developing AsiaPac has seen a rising trend in disasters, many of which have cost lives and livelihoods, contributing to poverty and rising inequality, says the Asian Development Bank (ADB) in a report titled Disaster Resilience in Asia.
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