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MiCRO natural disaster microinsurance facility was triggered in Haiti by Isaac

Yesterday we wrote about the impending payouts from microfinance organisation Fonkoze in Haiti who had told policyholders that they were ready to give all clients in areas hit by intense rain and wind from tropical storm Isaac a $125 payout, forgive their existing loan balance, and give them a new read the full article →

Isaac triggers Fonkoze MiCRO backed natural disaster microinsurance in Haiti

While attention is focused on the damage caused by hurricane Isaac when it ploughed into the Louisiana coastline it is easy to forget that before Isaac reached the U.S. the storm caused extensive damage in the Caribbean. The worst affected island appears to have been Haiti, which Isaac struck while read the full article →

Swiss Re and MiCRO developing parametric microinsurance for cholera in Haiti

Reinsurer Swiss Re and it's member colleagues of the Microinsurance Catastrophe Risk Organisation (MiCRO) are to develop a parametric microinsurance policy aimed at women entrepreneurs in Haiti. The scheme will offer a way to enable Haitian women struck by cholera with a rapid insurance payment for income lost by their 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 →

Hurricane Irene could cause Caribbean Catastrophe Risk Insurance Facility payouts

Hurricane Irene continues to make her way across the Caribbean showing no sign of decreasing in size or strength. In fact just the opposite, hurricane Irene looks set to intensify further and grow in size as she crosses the warm waters of the northern Caribbean heading straight for the Turks read the full article →

Microinsurance Catastrophe Risk Organisation (MiCRO) triggered in Haiti

The Microinsurance Catastrophe Risk Organisation (MiCRO) facility, which was launched in April by a high-profile partnership of companies, is reported (by Microfinance Focus) to have been triggered in Haiti during recent heavy rain and flooding in Haiti. The facility provides a microinsurance product which utilises a parametric trigger to settle read the full article →

CCRIF to make payout after hurricane Earl hits Caribbean

Hurricane Earl passed close enough to the Caribbean island state of Anguilla yesterday to trigger a payment under the Caribbean Catastrophe Risk Insurance Facility (CCRIF). Early reports suggest that Earl, a major Category 4 hurricane, blew roofs off buildings in Anguilla, downed power lines and caused beach erosion and flooding read the full article →