The African Risk Capacity (ARC), Africa’s sovereign parametric catastrophe insurance pool, is to make a US$8 million payout to Malawi after its 2015/16 agricultural season parametric drought insurance policy was triggered by ARC's model.Initially, the ARC model did not register a payout for Malawi from the drought this year, but read the full article →
The Philippines Insurance Commission has renewed its efforts to push through a bill that would make property catastrophe insurance mandatory in the country, after lobbying failed to get the idea ratified before the change of President in the country.The proposal would see a significant increase in catastrophe insurance premiums within read the full article →
The insurance mutual and financial affiliate of the African Risk Capacity (ARC), the African Risk Capacity Insurance Company Ltd (ARC Ltd), has announced that former Director of the International Finance Corporation (IFC), Dolika Banda, will replace Dr. Simon Young as Chief Executive Officer (CEO) of the firm.The appointment comes into read the full article →
The African Risk Capacity (ARC), Africa’s first sovereign catastrophe insurance pool, has ambitions to grow the size of the risk pool to $1.5 billion by 2020, as it increases the number of countries covered and expands products beyond drought, to include flood and cyclone risk.Speaking to Reuters yesterday, Director-General read the full article →
The African Risk Capacity (ARC), Africa’s first sovereign catastrophe insurance pool, is set to receive $150 million in support pledged by countries attending the Paris COP21 climate change talks over the last fortnight.The African Risk Capacity (ARC) has received a significant amount of coverage and support over the last fortnight. read the full article →
The African Risk Capacity (ARC) aims to double the coverage it provides to as much as $1.5 billion by 2020, by opening up its parametric insurance products to international organisations, such as United Nations agencies and non-governmental organisations (NGO's).The African Risk Capacity (ARC), Africa’s first sovereign catastrophe insurance pool, is read the full article →
The African Risk Capacity (ARC) has enlarged its risk pool, adding five new countries to those protected by the parametric insurer, growing the risk pool to $192m of capacity and utilising $70m of global reinsurance cover, which includes some ILS or collateralised protection.The renewal of insurance policies and reinsurance coverage read the full article →
The Australian government has launched a consultation process to see how access to insurance in cyclone prone regions in the north can be eased, with measures such as a government backed catastrophe reinsurance pool or mutual insurer to be assessed.At a time when there has been a considerable push in read the full article →
The latest in our series of interviews features Dr Simon Young, CEO of African Risk Capacity Insurance Company Ltd (ARC Ltd), a catastrophe risk pooling insurer for African states established under the umbrella of the African Risk Capacity (ARC) Specialised Agency of the African Union (AU).The African Risk Capacity Agency read the full article →
The African Risk Capacity (ARC), the first catastrophe insurance pool set up to provide cover to African nations, is set to more than double the number of countries that benefit from its products in its second year, with 12 likely to sign up, according to its director general.Speaking to Reuters, read the full article →
