index based insurance

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.

A new study from reinsurer Swiss Re shows that with drought conditions becoming more common in Europe a side effect has been an increase in the incidence of drought induced soil subsidence, resulting in higher levels of property damage. The study suggests that the changing climate will magnify the risk of soil subsidence and a […]

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.

International Finance Corporation (IFC), a member of the World Bank Group, and Swiss Re Corporate Solutions are to join forces to develop new and innovative index-based insurance products to help ease the impact of weather and natural disasters in developing countries. The products will be particularly targeted at farmers and the agricultural communities in Africa […]

Swiss Re have announced that they are to partner with Oxfam America and the World Food Programme as a founding sponsor and provider of re/insurance to the R4 initiative. The initiative aims to help poor rural communities protect their crops and livelihoods from the risks of climate change.

The spread of index-based weather insurance into the developing world continues apace as new products are launched on a regular basis which allow residents, farmers, business owners and governments to hedge the risks of weather impacting their livelihood. The speed with which weather-index insurance has been adopted puts to shame many developed western nations who […]

French NGO PlaNet Guarantee have teamed up with the International Finance Corporation insurance facility the Global Index Insurance Facility (GIIF) to launch what they are calling the first regional management platform for microinsurance and index insurance in West Africa.

Guy Carpenter has announced that they have received a $1m grant from the International Finance Corporation (IFC) to help develop a market for weather index-based microinsurance products in Mozambique. The initiative will aim to provide cheap, affordable insurance cover for farmers in a country where the population depends on agriculture for economic subsistence.

Farmers in the eastern, drought hit province of Kenya are benefitting from a microinsurance program which sold them weather-index insurance. The insurance policies pay out based on actual weather conditions making them particularly suitable to the developing world where education about how the claims process works can be difficult.

The U.N World Food Programme (WFP) and Oxfam have announced a new scheme which aims to help poor rural people protect their crops and livelihood from the impact of climate change. The announcement was made in Cancun at the ongoing climate change meetings.