Living with Fire Part 3: Private-sector approaches to a public problem

In the wake of the Rana Plaza collapse, Bangladeshi civilians—often first on the scene of disasters in poorer countries–are being trained to support emergency teams.

After a major fire, labor standards in Bangladesh are improving, but workers must have a voice if these changes are to be sustainable.

Summer in the Northwest presents a great risk of wildfires. A pile burning operation, just one facet of the strategy that Oregon has enacted to conserve its forests, clears undergrowth to lessen the risk of mega-fire. The work stimulates the local economy and provides employment, but it's also a very small part of what needs to be done.

Up until 2015, people living with HIV in the U.S. could not buy term life insurance, outside of a few small-value employer policies. Æqualis, a new company in partnership with Prudential Financial, began offering 10- and 15-year life insurance policies to individual consumers to help them and to reduce stigmas surrounding the disease.

Most insurance companies avoid insuring poor farmers because the transaction costs are too high, but a non-profit in Kenya created a sustainable way to cover them.

In the U.S. most supportive housing programs have a 75 percent turnover rate, meaning people end up in the streets again. Direct Access to Housing in California manages a turnover rate of only 15 percent by providing a home, counseling, and financial management.

Neighborhood Trust is a New York-based nonprofit offering financial advice to individuals experiencing economic hardships. Providing hands-on coaching, counselors are able to inform their clients about financial options they may have otherwise not known about like college financial aid or child care tax credits.

New York City suffered from fires that erupted in overcrowded, run-down apartments. Then the city sleuthed through residential records and found that landlords who foreclosed let their properties fall apart and ignored safety-code violations. Greater Toronto wants to expand upon New York City’s method by using transportation surveys, census data and computer data to build transit lines.

With more and more Americans having to pay medical costs out of pocket, a small company out of Philadelphia called ELAP is on the front lines of the war against escalating charges. By helping overwhelmed patients to de-mystify and negotiate medical bills, they are ensuring patients get the best value and avoid egregious financial distress.

In the wake of Hurricane Sandy, necessity has bred an interesting kind of financial invention for the New York MTA: the world’s first “catastrophe” bond - a reinsurance for the insurer - designed to protect public transportation infrastructure, specifically against storm surge. These bonds privatize risk for public gain, creating a kind of tool that may protect economic development against all kinds of natural and man-made disasters around the world.