The assignment consists of the following four components:
1. Hazard risk and financial loss database and hazard risk analysis
2. State catastrophe risk profile/ Disaster risk assessment.
3. Design Disaster Risk Financing Strategy for the State of Kerala with greater focus on housing
sector and Government Buildings
4. Design of triggers for financial transactions, with focus on housing sector and Government
The purpose of this proposed engagement is to build an understanding of the contingent liabilities faced by the government of Kerala and to develop financial strategies to increase the financial response capacity of government of Kerala in the aftermath of natural disasters, while protecting their long-term fiscal balances. The consultancy firm to be engaged has to study, review, collect and analyze necessary data to identify the extent of contingent liabilities faced from natural disasters and develop a strategic document which outlines government priorities on disaster risk finance keeping track record of the existing insurance policies, benefitting the resident population of the State and the State itself. By developing such a strategic document, the Government of Kerala intends to build financial resilience in the State through Sovereign disaster risk financing, catastrophe (property) risk insurance, and disaster micro-insurance.