Govt adopts disaster risk financing solution

Coastal communities face severe damages every year due to climate hazards and the farmers are the largest victim of it. 

Speakers made such opinion in a workshop titled “Climate Risk Insurance to protect the Coastal Communities” held at a hotel in the capital city on Sunday, said a press release.

They also said that flood, salination, riverbank erosion, heatwave and cyclone make the farmers even poorer. 

To save those climate change victims, climate risk insurance can play a vital role. Disaster Risk Insurance should be well available to the marginal people, including farmers, said the discussants.

Swiss Insur-tech company PULA Advisors arranged the event.

In collaboration with Department of Disaster Management under Ministry of Disaster Management, PULA Advisors has designed innovative climate risk insurance. 

On that note, a pilot project is going to be undertaken with a three-year graduation strategy.

While presenting the main report at the workshop, Shakir Bayezid, Country Commercial Chief of PULA Advisors mentioned that PULA, a Switzerland based Agricultural insurance technology company, provides innovative agricultural insurance and disaster risk financing solution to the climate vulnerable people in collaboration with government of different countries across the globe.

Chief guest Razwanur Rahman, Director General, Department of Disaster Management under Ministry of Disaster Management & Relief, said, people of Bangladesh have trust issue on any kind of insurance and that’s where we need to work on to build the trust. 

Joint Secretary and Director of Department of Disaster Management under MoDMR said, PULA Advisors arranged fund for the first-year premium subsidy and based on targeted milestones.

Other distinguished speakers at the workshop were Nahid Sultana Mallick, Director of DDM; Chairman & Professor Dr. Zillur Rahman, Department of Disaster Science & Climate Resilience, University of Dhaka; Naba Nashit Tarique, Deputy Head of BMMDP, Swiss Contact; and S.M. Ibrahim Hossain, Chief Faculty Member, Bangladesh Insurance Academy.