Fundamentals of Disaster Risk Financing for Advancing Sustainable Development of Small Island Developing States (SIDS)
This Continuing and Professional Education (CPE) course in Fundamentals of Disaster Risk Financing for Advancing Sustainable Development of Small Island Developing States (SIDS) is a forty (40) contact hour online course focusing in large measure on enhancing the understanding and use of the tools used in disaster risk financing and the important role these tools play in advancing debt and fiscal sustainability of countries.
The course also explores the rationale for countries to have in place disaster risk financing policies and strategies and how these can be developed to complement countries’ comprehensive disaster risk management policies. It also introduces Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Company (CCRIF SPC) as the Caribbean region’s main disaster risk financing facility for parametric insurance and how parametric insurance and the models underpinning it work. Additionally, it examines the range of other ex-ante and ex-post disaster risk financing instruments and how these work alongside each other. The linkages between shock responsive social protection and disaster risk financing within the context of vulnerable populations is also explored.
On successful completion of the course, learners will be able to:
- understand the region’s risk profile with respect to natural hazards;
- comprehend the importance of disaster risk financing to debt and fiscal sustainability and a country’s overall development prospects;
- develop a disaster risk financing policy and strategy and which instruments the when to apply each of the tools;
- understand the importance of insurance such as parametric insurance in closing the financial protection gap;
- explain parametric modelling and how parametric insurance policies work;
- integrate different types of risk into an integrated risk management framework at the sovereign level; and
- determine the main elements of a shock responsive social protection policy and how microinsurance can work in areas of a financial inclusion and poverty reduction.
Who is this course for?
The target audience for the course are individuals with an interest in Disaster Risk Management (DRM) and areas of public financial management as well as professionals in the public sector professionals with responsibility for finance/economic development, disaster management, meteorology, water resource management, environmental management, physical planning, sustainable development.
What is the purpose of the course?
The key aims of this course are to:
- Expose learners to the range of policy instruments used in both ex-ante and ex-post disaster risk financing;
- Provide insight into parametric insurance and modelling and CCRIF parametric insurance policies;
- Explain the underpinning and construct of CCRIF’s parametric policies, models and country risk profiles;
- Expose learners to all hazards risk management frameworks and how at the national level to take into account all risk types to inform decision making at the national level; and
- Demonstrate the linkages between comprehensive disaster risk management and shock responsive social protection.
The Continuing Professional Education Course is divided into five (5) Units and comprises forty (40) contact hours equivalent to 4 Continuing Education Units (CEUs).
Unit 1: The Caribbean’s Natural Hazard Landscape and Profile
Unit 2: Introduction to Disaster Risk Financing
Unit 3: Introduction of Integrated Risk Management and All Hazards Risk Policy Frameworks
Module 4: Parametric Insurance and Modelling
Module 5: Shock Responsive Social Protection and DRM and Insurance
When will the course start?
The course starts in September 2020.
How to apply?
At least an undergraduate degree, preferably in the areas of economics, related social science disciplines, disaster risk management, geography, geology environmental management , or background / work experience in economics, disaster risk management.
Mode of Delivery
The course will be offered in a blended modality taking advantage of the synchronous virtual delivery and Continuing & Professional Education (CPE) Learning Management System.
The assessment will be conducted continuously throughout the course. The assessments will focus on determining the optimal disaster risk financing tools for countries as well as development of a mock disaster risk financing policy. The assignments will include coursework, individual assessments and group assessment.
This course consists of formative and summative assessments.
Formative assessment tasks, which are considered as developmental, will be diagnostic but not be used for final grading. A variety of collaborative and individual tasks will be used as a means for learners’ self-assessment to ensure their understanding of the course content. These tasks will allow learners to assess their understanding of the course material, gauge their progress and identify and take the necessary actions towards meeting their learning needs.
Specific activities throughout the course will be used to determine overall achievement. Assessment criteria and rubrics will be provided for each of these activities. These tools will help guide the undertaking of these activities as well as encourage self-assessment.
Participants will be provided with a training manual -prepared by CCRIF SPC which will contain all information related to all the topics included in the course. CCRIF will also provide additional publications and web-based resources and tools throughout the duration of the course.
Requirements for the Award Certificate
In order to qualify for the award of the Certificate of Achievement with Continuing Education Units (CEUs), learners must attain a total of forty (40) hours.