This report was prepared at the requestof the ministry of finance (MoF) and ministry of emergencysituations of Uzbekistan as of February 2019. It aims toprovide a detailed overview of the current status ofdisaster insurance for residential property in the country,identify gaps, and provide recommendations for a wayforward. Uzbekistan is prone to many natural disasters thathave a devastating potential for the economy and thepopulation. It is widely recognized that disaster insurancecan reduce the fiscal impact of natural disasters as well astheir adverse economic impact on the population; and lead toa faster post-disaster recovery. Disaster insurance inUzbekistan is offered by the private insurers. TheGovernment of Uzbekistan (GoU) can consider the followingactions to further strengthen disaster insurance: (i)establish a centralized disaster insurance national pool inthe form of a public-private partnership; (ii) improveregulatory framework for disaster insurance; (iii)strengthen the insurance supervision of the disasterinsurance market and introduce adequate reporting ofcatastrophe risk accumulations retained by insurancecompanies; and (iv) invest in better risk informationsystems. The report is structured in three main parts. Thefirst part provides an overview of Uzbekistan disasterprofile and buildings’ seismic vulnerability based on a riskassessment performed for the Kyrgyz Republic. The secondpart provides an overview of the local insurance market,disaster insurance line of business, and analyzes thecurrent gaps in coverage and regulation. The third partreviews four examples of disaster insurance programs fromthe Kyrgyz Republic, Romania, Turkey, and New Zealand.
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