The aim of United Nations is to give every person on Earth access to natural disaster early warning systems. According to U.N. the project with the Geneva-based World Meteorological Organization aims to make the alert systems being used by developed countries available to the developing world.
After the catastrophic Indian Ocean tsunami of 2004, the government of India invested in systems that alert people early about disasters, is saving millions of lives. For a country of 1.4 billion, where nearly one-third of the population lives in coastal areas – at risk from not only tsunamis, but also cyclones and storm surges – these early disaster warning systems become important.
How can insurance contribute towards this goal?
Insurance is the father of modern Fire Brigade as we see today. Similarly, insurers must invest in governments and work with the UN in developing systems that give every person on Earth access to natural disaster early warning systems. Thus, the insurers can save lives and billions in claim payments.