African Risk Capacity

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ARC and Southern African nations to work on parametric risk transfer

The African Risk Capacity (ARC), which provides parametric disaster insurance products for countries in Africa, has signed a memorandum of understanding with the Southern Africa Development Community (SADC) Secretariat to further enhance its members disaster resilience and risk financing.With the SADC region of Africa being particularly prone to climate and read the full article →

Rainfall deficit triggers Côte d’Ivoire’s parametric African Risk Capacity policy

The African Risk Capacity (ARC) will pay the Government of Côte d’Ivoire $738,835 after a deficit of rainfall during the growing season triggered the countries parametric insurance policy.Having guaranteed a minimum pay-out of $22m for Senegal at the end of the country’s farming season in November, after drought triggered its read the full article →

African Risk Capacity to pay Senegal $22m after drought triggers policy

The African Risk Capacity (ARC) is set to pay the Government of Senegal $22 million after drought triggered the countries parametric insurance policy.African Risk Capacity Insurance Limited (ARC Ltd), the insurer arm of the parametric development insurance provider, will pay Senegal the $22 million to cover losses due to crop read the full article →

ARC & Africa CDC team on parametric outbreak & epidemic insurance

The African Risk Capacity (ARC) has teamed up with the Africa Centre for Disease Control (Africa CDC) to further its work on a parametric index to support outbreak and epidemic insurance and risk transfer at the sovereign level.ARC has been working on developing an outbreak and epidemic risk transfer offering read the full article →

ARC sells first replica parametric policies to WFP & Start Network

The African Risk Capacity (ARC), an organisation providing parametric sovereign disaster risk insurance and resilience building support to African nations, has sold its first replica coverage policies for drought to the World Food Programme (WFP) and the Start Network.ARC launched the so-called "replica coverage initiative" back in 2015, hoping to read the full article →

African Risk Capacity targets independence within five years

Parametric development insurance provider the African Risk Capacity (ARC) targets becoming an independent institution within the next five years, with its current cooperation agreement with the World Food Programme (WFP) extended until 2024.The African Risk Capacity (ARC) provides parametric disaster insurance, alongside resilience and contingency plans, education and advice.ARC makes read the full article →

Mozambique seeks sovereign disaster insurance with help of ARC & World Bank

The African nation of Mozambique is seeking sovereign disaster insurance solutions to help better protect its economy and people against the impacts of drought, floods and tropical cyclones.The country is working with the parametric development insurance provider the African Risk Capacity (ARC), as well as other agencies including the World read the full article →

African Development Bank launches disaster risk facility, ARC to assist

The African Development Bank has announced the launch of a disaster risk facility that will aim to increase the use of climate risk financing and insurance, including parametric risk transfer solutions, for African countries.The African Development Bank (ADB) announced the approval and launch of the Africa Disaster Risks Financing (ADRiFi) read the full article →

ARC and Metabiota begin parametric outbreak & epidemic insurance pilot

The African Risk Capacity (ARC), a parametric sovereign disaster risk insurer for African nations, has begun a pilot with the help of San Francisco based Metabiota to roll-out parametric insurance cover against disease outbreaks and epidemics.The new parametric outbreak & epidemic insurance product has been coming for some time, as ARC read the full article →

African Risk Capacity & UN partner to expand climate risk insurance access

The African Risk Capacity (ARC), an organisation providing parametric sovereign disaster risk insurance and resilience building support to African nations, has entered into a partnership with the United Nations Economic Commission for Africa (ECA) aiming to increase uptake and coverage of climate risk insurance in the region.The African Risk Capacity read the full article →