African Risk Capacity

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ARC focusing on multi-hazard index for climate cat bond facility XCF

The African Risk Capacity (ARC) continues to work towards the implementation of its climate catastrophe bond backed Extreme Climate Facility (XCF), focusing on the development of a robust multi-hazard index that can be used to trigger the instruments.The Extreme Climate Facility (XCF) is a proposed multi-year funding mechanism which will read the full article →

Zimbabwe to get ARC parametric drought & replica cover via WFP

The government of Zimbabwe has approved the purchase of a parametric drought insurance policy from the African Risk Capacity (ARC) and will also benefit from a replica cover purchased by the World Food Programme (WFP).In becoming a policyholder of an ARC parametric insurance cover, Zimbabwe will better insulate itself against read the full article →

ARC pays Côte d’Ivoire $745k after rainfall deficit triggers parametric cover

The African Risk Capacity (ARC) has now made a payout of $745,000 to the Government of Côte d’Ivoire after a deficit of rainfall during the growing season triggered the countries parametric insurance policy.ARC had been aiming to pay the country $738,835, but the final payment came out slightly higher at read the full article →

African Risk Capacity’s parametric drought payout to Senegal hits $23m

The African Risk Capacity (ARC) has now paid out over $23 million after drought triggered Senegal's parametric insurance policy with the facility.At first the African Risk Capacity (ARC) had estimated the payout would be closer to $22 million, but this week the facility actually paid $23.1 million in two amounts read the full article →

ARC progresses climate cat bond facility XCF, signs up UN support

The African Risk Capacity (ARC) is continuing to make progress towards the launch of its Extreme Climate Facility (XCF), a proposed multi-year funding mechanism that will issue climate change catastrophe bonds to help African nations transfer climate change related exposure to the capital markets.The African Risk Capacity (ARC) first launched read the full article →

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 →