www.worldbank.org/srm

Viewing Social Protection as a Springboard and Safety Net for Poor People

Social Risk Management (SRM) is a framework that can be used to analyze the sources of vulnerability, how society manages risks and the relative costs and benefits of various public interventions on household welfare.  Whereas poverty reflects an unacceptable level of well-being, vulnerability captures the exposure to uninsured risk leading to a socially unacceptable level of well-being in the future.  As such, SRM addresses how vulnerable individuals and households can be helped to better manage risks and become less susceptible to damaging welfare losses.  This framework also highlights the broad range of formal and informal, proactive and reactive risk management strategies used by individuals, communities, nations and communities of nations, including actions by the public, private, and informal sectors... more.