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Eye on the world: Assurance in every season
In “How to make natural calamities ‘dull’” The Christian Science Monitor reports on the “cycle of tragedy and begging” when the world’s poorest countries experience a devastating natural disaster, and they turn desperately to the international community for emergency aid. However, there is an opportunity for ameliorating this problem through national insurance plans. When a natural disaster hits a poor country that does not have an insurance plan, there is an immediate dependence on the global community to give donations to aid organizations. Proper aid could be ensured by establishing a large-scale disaster insurance plan. The current dynamic of chaotic dependency on aid donations is being challenged by “providing incentives for countries to reduce the risk from disasters through insurance on a regionwide scale.” Insurance plans will not eliminate the need for aid donations when a poor country suffers a natural disaster, but this planning measure could strengthen the foundation from which a country starts to rebuild.
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