Your search for “weather index microinsurance”

Helped by the growth of microinsurance and weather-index insurance, India’s weather insurance market has been experiencing rapid growth in recent years. Now with more farmers starting to use weather insurance as a way to mitigate against the risks posed by extreme weather and climate change impacts two of India’s biggest players in weather insurance have […]

The United Nations climate experts have published a lengthy report looking at mechanisms and methods to help make societies more resilient to natural disasters and severe weather events. The report from the Intergovernmental Panel on Climate Change discusses the billions of dollars of damages caused by extreme weather and climate events in recent years, whether […]

Tea growers in Kenya could soon have access to a new way to protect themselves against loss of earnings caused by frost damaging their tea plantations according to this article in Business Daily Africa. The Kenya Tea Development Agency, which is a marketing agency for half a million small farmers, is looking to launch an […]

With funding secured from the German Federal Ministry for the Environment, a new microinsurance scheme is being planned through the combined efforts of reinsurer Munich Re, the Caribbean Catastrophe Risk Insurance Facility and broker MicroEnsure. Funded with €2m for three years to help further the project, the three parties are being brought together under the […]

HDFC Ergo General Insurance in India have announced that they have made their first payments under their weather-index insurance programme due to heavy rainfall in the Dewas district of India. The index based weather microinsurance coverage was offered for this first time in 2011 to protect soybean farmers from heavy rainfall.

Kenya is again suffering from a drought which is causing hardship and deaths among the millions of affected people in the region. The resulting food crisis is one of the worst seen and despite the global awareness of the plight of drought affected Africans the support they receive remains minimal. However the drought has shown […]

The weather derivatives market has been growing steadily with data from the Weather Risk Management Association (WRMA) showing that the overall market grew by 20% in the 2010 to 2011 year to a total size of $11.8 billion. The WRMA said that the OTC weather derivatives market alone is worth $2.4 billion. With numbers like […]

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 businesses due to their illness. […]

Some farmers in a drought stricken region of Kenya have received payments under the terms of a weather-index based microinsurance policy established this year. Wheat farmers in Narok County in southwest Kenya have received payments for a total crop failure due to drought in April.

Here’s another great example of microinsurance in action through the use of index-based weather insurance policies for farmers in developing nations. Farmers in Kibwezi, Kenya have become the first to receive a payout from a recently launched drought insurance product sold by Jubilee Insurance.