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Establishing a national disaster insurance scheme is one of the main features of the UNDP’s NAP for Bosnia & Herzegovina. Improving BiH’s preparedness for dealing with Nat Cat events is instrumental considering the expected increase in flood losses and the very low current insurance coverage.
Over the past eighteen years the country has had 7 years of drought and 5 years of flooding, specifically in 2014 when major flooding caused damages equivalent to 15% of the country’s GDP for that year, an article prepared by the UNDP reads. Moreover, according to the European Environment Agency, annual flood losses in BiH are expected to increase five-fold by 2050 and up to 17-fold by 2080.