What Can Super Typhoon Rai Teach Us About Financial Inclusion?
Typhoon Rai made landfall in the Philippines in December 2021, killing over 400 people, devastating 1.5 million homes, and causing over $1 billion in damage. Extreme weather events like Rai are becoming more common as a result of climate change. Financial services can make households more resilient and adaptive, but too often the people who are most vulnerable to these shocks—such as women, poor people, forcibly displaced people, and people in rural areas—are also financially excluded.
This podcast episode features a Typhoon Rai survivor and the insurance provider that helped her rebuild her home. It explores the changing role of insurance and other financial services in climate change mitigation and adaptation.