This report is part of a project beingjointly conducted by the World Bank, the Global Facility forDisaster Reduction and Recovery (GFDRR), the Association ofSoutheast Asian Nations (ASEAN) Secretariat, and UnitedNations International Strategy for Disaster Reduction(UNISDR). It aims to provide capacity building on disasterrisk financing and insurance (DRFI) in ASEAN Member States.DRFI is a relatively new topic and, therefore, training andcapacity building of local stakeholders is essential.Governments must understand the benefits and the limitationsof disaster risk financing and insurance as part of theircomprehensive Disaster Risk Management (DRM) strategies.This report presents main findings and recommendations onDRFI in the ASEAN region. Following the World Bank disasterrisk financing and insurance framework, it consists of fivechapters, including this introduction. Chapter two presentsa preliminary economic and fiscal risk assessment of naturaldisasters in ASEAN Member States. Chapter three provides anoverview of the fiscal management of natural disasterscurrently implemented by ASEAN Member States. Chapter fourreviews the state of the private catastrophe insurancemarkets, including property catastrophe risk insurance,agricultural insurance, and disaster micro-insurance.Chapter five identifies five main recommendations forstrengthening the long-term financial and fiscal resilienceof ASEAN Member States against natural disasters, as part oftheir broader disaster risk management and climate changeadaptation agendas.