Microinsurance

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Peru to expand El Niño agricultural catastrophe insurance cover

The Peruvian government and the Ministry of Agriculture have chosen to expand the country’s El Seguro Agrario Catastrófico (SAC), or the Agricultural Catastrophe Insurance scheme, to include five more regions, with the launch of an international tender, according to reports.Reports in peruthisweek.com underline the recent impact of El Niño on read the full article →

World Bank’s IFC partners on Indonesian parametric climate insurance

The World Bank Group’s global development institute, International Finance Corporation (IFC), will collaborate with Indonesia’s PT Reasuransi MAIPARK to develop parametric insurance solutions for the country’s agribusinesses against the increasing threat and costs of natural disaster and climate events.The IFC and MAIPARK, a specialist risk reinsurance firm owned by all read the full article →

Swiss Re backs MiCRO catastrophe index business interruption cover

The Microinsurance Catastrophe Risk Organisation (MiCRO), a Barbados based reinsurance company that leverages the capital efficiency of the international reinsurance market alongside donor capital, has launched a novel index-linked business interruption policy.MiCRO launched in 2011 with the backing of Swiss Re, among others, to bring efficient insurance risk transfer products read the full article →

Satellite data supports the development of risk transfer solutions

Satellite data plays an important role in the establishment and success of risk transfer triggers and index insurance schemes, and as technology has advanced the use of satellites has expanded and become more efficient, supporting the growth of innovative agriculture insurance and reinsurance solutions.The agricultural sector of many emerging, poorer read the full article →

As microinsurance penetrates Africa reinsurance capacity need will grow

Parametric or weather-index insurance cover through microinsurance schemes continues to expand its reach across Africa, a trend that could result in greater demand and utilisation of reinsurance and insurance-linked securities (ILS) capacity.During 2014 total identified microinsurance written premiums across Africa increased to $756 million, from $387 million in 2011, representing read the full article →

Scope for re/insurance growth in frontier markets: Swiss Re

Boosting insurance and reinsurance penetration in emerging markets is seen as key to building global disaster resilience and creating opportunities for re/insurers. But there’s also scope for companies to seriously look at expanding coverage in frontier markets, according to reinsurance giant Swiss Re.Frontier markets are typically smaller, less well-developed markets read the full article →