BACOLOD CITY: The Asia-Pacific Economic Cooperation (APEC) could put up a regional insurance facility that can provide insurance cover for any of its 21 member economies that may be struck by a major disaster, a World Bank official said.

Richard Poulter, a specialist on disaster risk financing and insurance from Washington-based World Bank, proposed the concept of a regional insurance facility during an APEC meeting on Disaster Risk Finance held in this city on Thursday.

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