The private sector has a key role in reducing disaster risk as part of a “collective” process involving all parts of society.
That’s the view of Craig Stewart, Vice President with the Insurance Bureau of Canada, speaking at the recent Fifth Regional Platform for Disaster Risk Reduction in the Americas.
His organization represents 90 per cent of the country’s property and casualty insurance market.
He says the private sector in all countries has an incentive to fund the development of better infrastructure to reduce the harmful impact of disasters, making economies more resilient.
Mr Stewart spoke to Matthew Wells at the conference in Montreal.