2 million African farmers insured for weather & catastrophe risks: Swiss Re

One of the world’s largest reinsurance firms, Swiss Re, recently announced that two million African smallholder farmers are now protected against drought, floods and other natural perils, thanks to the efforts of the World Bank and Swiss Re Corporate Solutions. Back in 2012, Michel Lies, Swiss Re’s Chief Executive Officer (CEO) read the full article →

Weather-index microinsurance growing up, targeting sustainability

Weather-index based microinsurance schemes are beginning to grow up, as the schemes which were often launched as pilot projects with backing from development banks or agencies start to target a sustainable future as viable social businesses. We've covered this interesting sector for many years, watching the development of weather-index insurance and read the full article →

PlaNet Guarantee and Global Index Insurance Facility launch new microinsurance facility in Africa

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. The project aims to roll out microinsurance products to farmers in the read the full article →

Microinsurance to be regulated in the Philippines

Now that microinsurance is becoming a more accepted form of insurance in developing nations around the world it's good to see people acknowledging that it requires a different set of regulation to normal insurance products. By its very nature microinsurance is aimed at poorer residents of developing nations and as read the full article →

FESA creates satellite monitored index-based drought microinsurance for Africa

An project called Food Early Solutions for Africa (FESA) has been working on validating a microinsurance product for African farmers which will use satellite technology to measure drought conditions. This allows them to create an index against which a microinsurance drought product can be triggered. Their approach is based on collecting read the full article →

Microinsurance in action: Rain shortfall triggers first M-PESA drought insurance payouts for Kenyan farmers

We are big supporters of microinsurance (particularly weather index-linked insurance) so it's great to receive a press release which demonstrates exactly what this sector can do to support rural communities and reimburse them financially when weather conditions affect their livelihoods. This particular example is in Kenya where farmers have been encouraged read the full article →

Innovative insurance solutions key to financing the rising costs of climate risks

'More than 3.4 billion people worldwide are already threatened by natural hazards, most of them in the developing world. Climate change could make matters even worse. Innovative insurance solutions offer these large populations more adequate financial tools  to help them cope with the growing risks in a changing climate' says read the full article →

Make microinsurance transparent and easy to understand

Microinsurance is becoming a hot topic among insurers and reinsurers looking for new sources of revenue and new markets to enter. It's an opportunity the size of which hasn't been seen by the insurance industry for many years but there are some key points to remember when it comes to read the full article →

Use excess capital innovatively, try microinsurance, Guy Carpenter tells reinsurers

It's the Rendez-Vous de Septembre reinsurance industry meetings in Monaco at the moment. The event sees many of the leading lights of the reinsurance world attend to meet, discuss and learn about the state of the market. The event always has some briefings with interesting topics and yesterday there was read the full article →

Insurance industry demands role in climate adaptation

Four initiatives which involve over 100 insurers from around the globe have issued a call to governments worldwide to utilise risk management, risk transfer and insurance techniques and expertise to help the developing world cope with the changing climate. The four initiatives; ClimateWise, the United Nations Environment Programme Finance Initiative, The read the full article →