Index-based weather insurance availability in India expanding


Iffco Tokio have announced today that they are expanding the availability of their Barish Bima Yojna insurance product to further districts. The product, designed to protect farmers crops from either deficit or excess rainfall, has been well received and should serve as a model for others seeking to tap emerging markets with micro-insurance products to protect against weather extremes. This product is particularly good for farmers as it is transparent in that it pays out based on actual rainfall measures at local weather stations.

I’m surprised we haven’t seen an attempt to launch something specifically for crops which protects against wind speeds. Surely someone must be able to create a similar, sustainable microinsurance product to protect these same farmers from high winds (which can be just as damaging as rain to crops) and again base the payouts on an index of wind speeds measured at local weather stations?

Read the full press release here.

Artemis Live - ILS and reinsurance video interviews and podcastView all of our Artemis Live video interviews and subscribe to our podcast.

All of our Artemis Live insurance-linked securities (ILS), catastrophe bonds and reinsurance video content and video interviews can be accessed online.

Our Artemis Live podcast can be subscribed to using the typical podcast services providers, including Apple, Google, Spotify and more.

Print Friendly, PDF & Email

Artemis Newsletters and Email Alerts

Receive a regular weekly email newsletter update containing all the top news stories, deals and event information

  • This field is for validation purposes and should be left unchanged.

Receive alert notifications by email for every article from Artemis as it gets published.