index insurance

Reinsurance giant Munich Re have teamed up with Germany’s Gesellschaft fur Internationale Zusammenarbelt (GIZ) GmbH to establish a risk transfer system for agriculture in Peru.

The Global Index Insurance Facility (GIIF), a weather and disaster insurance facility managed by International Finance Corporation alongside the World Bank, has received funding to help it expand the use of index insurance in agriculture.

IFC, a member of the World Bank Group, has signed two grant agreements totaling $3.9m, with the Syngenta Foundation for Sustainable Agriculture to expand a weather index insurance pilot to over one million East African farmers.

Insurers providing weather-index or parametric insurance policies in India are facing heavy losses due to the impact of cyclones on agricultural regions. Weather-index insurance firms may see loss ratios as high as 100% due to heavy crop losses, according to a report.

International Finance Corporation (IFC), part of the World Bank Group, is developing an index-based insurance product to protect banks in Indonesia that provide loans to individuals and micro, small and medium enterprises from losses following earthquakes and other disasters.

A new pilot scheme offering flood insurance to residents of a region of Bangladesh using a parametric product based on flood depths has been launched by a group of organisations including Oxfam and Swiss Re. The product aims to use alternative risk transfer techniques to protect poor residents of river basin areas of the country.

We’ve said for a number of years that one area where the reinsurance convergence markets, where insurance, reinsurance and capital markets come together, can find growth is in the underinsured and rapidly expanding developing economies of the world. A report published today by Lloyd’s of London highlights this opportunity by warning of an annualised $168 […]

The increasing adoption of weather index insurance or parametric insurance in the developing world continues as another pilot scheme gets approval in the Indian state of Maharashtra. Insurer HDFC ERGO General Insurance has received approval from the Maharashtra government to implement a pilot microinsurance project aimed at both farmers who have taken loans from a […]

The IFC (International Finance Corporation), part of the World Bank Group, has partnered with micro-insurance company SANASA Insurance to pilot affordable, index-based weather insurance products to farmers in Sri Lanka to help minimise the impact of crop losses due to flooding or drought. It’s another example of index-based insurance products being used to bring insurance […]

The Asian Development Bank has published a report today on the topic of climate change, adaptation and the expected surge in migration that the variations in our climate will likely cause. The report, titled Addressing Climate Change and Migration in Asia and the Pacific, highlights that 42 million people in the region were displaced by […]