Sompo Japan announce weather index insurance for drought in Thailand

Sompo Japan have released a press release to announce the launch of a new insurance product in Thailand to protect against drought. It’s good to see further advances in the weather index based insurance world as they expand to new regions. Although this is again a micro-insurance pilot scheme it’s hoped this could continue as a commercial venture at the end of the pilot period. The full press release from Sompo Japan is available here (in PDF format).

Tagged as: drought, index, index based insurance, weather risk