Microinsurance Catastrophe Risk Organisation (MiCRO) awarded IFC funding

The Microinsurance Catastrophe Risk Organisation (MiCRO), a specialty reinsurance organisation established to provide the backing for microinsurance products through microfinance institutions in Haiti, has received $1.96m in funding from the IFC (International Finance Corporation), a member of the World Bank Group. The award includes a $1.7 million performance-based grant and read the full article →

MiCRO signs grant agreement with Caribbean Development Bank, set to expand

The Micro Insurance Catastrophe Risk Organisation (MiCRO) has signed a grant agreement supporting their parametric catastrophe micro-insurance programme for Haiti with the Caribbean Development Bank (CDB). The CDB will be administering the multi-donor trust fund that supports the operations of MiCRO.MiCRO provides parametric insurance products which aim to protect microfinance read the full article →

Fonkoze pays out over $1m in MiCRO natural disaster insurance

Fonkoze, a lender of micro-loans to small businessmen and farmers in Haiti, have now paid out over $1m in damages to its 3,800 borrowers after heavy rainfall triggered the Microinsurance Catastrophe Risk Organization (MiCRO) policies that they provide along with their loans, according to Microfinance Focus.It was the first time read the full article →

Catastrophe microinsurance facility launched for Haiti

A number of high profile organisations within the risk transfer and reinsurance industries have teamed up to help bring affordable catastrophe insurance to the Caribbean island of Haiti. The innovative, donor-capitalised insurance facility called the Microinsurance Catastrophe Risk Organisation (MiCRO), has been set up to target the country’s ‘informal sector’ read the full article →