Climate change could cost 19% of GDP

A new report highlights te potential for major losses due to climate change. Some countries could see costs mounting to as much as 19% of their GDP by 2030 according to the report by the Economics of Climate Adaptation Working Group (a partnership between the Global Environment Facility, McKinsey & read the full article →

MicroEnsure to offer Kenyan farmers drought insurance

MicroEnsure has been running a weather insurance pilot in Malawi, Africa since 2005 with the World Bank's help and approval. Since then they have launched the product to farmers in Tanzania, Rwanda, India and the Philippines. Now they have announced that they will be opening up and offering policies to read the full article →

As El Nino dampens the monsoon, crop weather claims will rise

It's been widely reported in the last few weeks that an El Nino weather pattern is developing in the Pacific. The phenomenon causes a warming of the Pacific ocean which in turn affects weather patterns globally, although the worst affected are those surrounding the Pacific. El Nino conditions are thought read the full article →

GlobalAgRisk research looks into index-based weather risk management tools for developing countries

GlobalAgRisk Inc has started a research programme looking to develop new index-based weather risk management tools and pilot test them in developing countries. The products will be created with the aim of helping smallholder farmers to continue to farm their land safe in the knowledge that major losses from local read the full article →

Index-based risk transfer tools for developing nations

Since we began the Artemis blog one of the topics which has interested us, and hopefully our readership, is the innovation occurring in the re/insurance and risk transfer markets as they seek to provide mechanisms for people in developing nations to hedge and protect themselves against weather extremes. The development read the full article →

Index-based weather insurance availability in India expanding

Iffco Tokio have announced today that they are expanding the availability of their Barish Bima Yojna insurance product to further districts. The product, designed to protect farmers crops from either deficit or excess rainfall, has been well received and should serve as a model for others seeking to tap emerging read the full article →

LeapFrog launches world’s first microinsurance investment fund

LeapFrog Investments announced that they have raised $44m for a fund devoted to helping companies start microinsurance schemes in developing areas of the world. It's the first fund of it's kind and aims to help businesses bring insurance and financial services products to 25 million low income people in Africa read the full article →

Iffco Tokio planning weather index for insurance

Iffco Tokio, the joint venture between the Indian Farmers Fertilizer Co-operative (IFFCO) and Japanese insurer Tokio Marine and Nichido Fire Group, is planning to launch a satellite based weather index for weather insurance use in India. The scheme is being worked on thanks to the help of a grant from read the full article →

RMS investigating earthquake micro-insurance for China

Risk Management Solutions (RMS) have announced completion of a pilot project looking at the viability of bringing a micro-insurance scheme for earthquake risk to rural China. RMS say that with the appropriate support it is now viable to bring a product to market which could help protect low income households read the full article →

Weather triggered micro-insurance gaining in popularity

It's really good to see that the Guardian newspaper, one of the largest circulation news sources in the UK, today carries an article on micro-insurance weather protection for farmers in India and the developing world. We are huge advocates of the potential benefits of these schemes, even though we do read the full article →