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It would have cost $5 million to contain Ebola in West Africa after it was detected. Eight months later, the figure was two hundred times that. Despite urgent warnings of food insecurity in Somalia in 2010, donors waited 11 months to scale up assistance.
Emergencies cause poverty, drive displacement, and exacerbate insecurity. Aid to tackle natural disasters is generous, but mainly arrives when needs are acute rather than when it would do most good. Responding effectively is hard because budgets are uncertain and funding gets promised but not delivered.
Please join us for the launch of a new CGD reportPayouts for Perils: Using Insurance to Radically Improve Emergency Aidsetting out how we can use the principles and practice of insurance to save lives, money and time when catastrophes strike. Senior experts from government, aid agencies, and the insurance industry—all contributors to the report—will discuss how to radically improve emergency aid by delivering fast, reliable funding when hazards hit.
Following the event there will be an informal reception.