Despite increasing disaster risk in South Asia Region (SAR), awareness and understanding of this risk among individuals and governments remains low. As an emerging topic, exposure and vulnerability to natural hazards and their consequential impacts are not yet at the forefront of development agendas. Disasters result from the combination of three key elements: i) natural hazards, including earthquakes, cyclones, excess rainfall, tsunamis, etc.; ii) exposure (of people and property to these hazards); and iii) vulnerability (of the human and physical capital exposed) due to physical, social, economic, governance, and environmental factors that increase the susceptibility of a community to the impact of a natural hazard. To promote engagement in disaster and climate risk management practices, this report informs readers about the elements that are driving increases in disaster risk in SAR. The report first examines the regional rise in disaster events and losses, the nature of the hazards, the drivers of current and future disaster loss, and provides an overview of activities that can reduce the vulnerability of exposed assets.