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Instead of the Government spending huge amounts of public money after a disaster, the idea is that it should be possible to have insurance to properties well before a disaster strikes. By spreading the resources among a large number of members of public, who have the risk of facing a disaster, less public expenditure would be incurred and greater benefits can accrue to the people in case of actual occurence of disaster. There are various models on this, including partial support of Government towards insurance premium, till the public at large catch up the idea of insurance.

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Q: What is risk transfer in disaster management?
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