Swiss Re, USAID partner on natural disaster insurance

Swiss Re and USAID have announced a three year partnership with one of their main aims being to reduce the costs of natural disasters in the Americas, Africa and Asia. By enabling better access to customized, market based insurance products they hope to help farmers and families become more resilient read the full article →

Index based livestock insurance pays out due to drought in Kenya

Kenya is again suffering from a drought which is causing hardship and deaths among the millions of affected people in the region. The resulting food crisis is one of the worst seen and despite the global awareness of the plight of drought affected Africans the support they receive remains minimal. read the full article →

Swiss Re and MiCRO developing parametric microinsurance for cholera in Haiti

Reinsurer Swiss Re and it's member colleagues of the Microinsurance Catastrophe Risk Organisation (MiCRO) are to develop a parametric microinsurance policy aimed at women entrepreneurs in Haiti. The scheme will offer a way to enable Haitian women struck by cholera with a rapid insurance payment for income lost by their read the full article →

Fonkoze pays out over $1m in MiCRO natural disaster insurance

Fonkoze, a lender of micro-loans to small businessmen and farmers in Haiti, have now paid out over $1m in damages to its 3,800 borrowers after heavy rainfall triggered the Microinsurance Catastrophe Risk Organization (MiCRO) policies that they provide along with their loans, according to Microfinance Focus.It was the first time read the full article →

Weather-index insurance helps some drought stricken farmers in Kenya

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.In total 3,380 farmers will receive read the full article →

Microinsurance Catastrophe Risk Organisation (MiCRO) set to expand

Business News Americas report here that a Swiss Re representative has declared that they will seek to replicate the Microinsurance Catastrophe Risk Organisation (MiCRO) to provide cover across several Caribbean and Latin American countries in the coming months.MiCRO was launched earlier this year by founding partners Swiss Re, Guy Carpenter read the full article →

Sorghum farmers in Kenya receive payout from index-based drought insurance

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.The product launched earlier this year and read the full article →

Microinsurance Catastrophe Risk Organisation (MiCRO) triggered in Haiti

The Microinsurance Catastrophe Risk Organisation (MiCRO) facility, which was launched in April by a high-profile partnership of companies, is reported (by Microfinance Focus) to have been triggered in Haiti during recent heavy rain and flooding in Haiti. The facility provides a microinsurance product which utilises a parametric trigger to settle read the full article →

Philippines could hit 20% insurance uptake by year-end thanks to microinsurance

We've covered a lot of the news regarding the growth of microinsurance in the Philippines, particularly microinsurance for weather and disaster cover pilots, and the Asian country seems to be continuing to adopt insurance for low-income people quicker than many other countries.The Philippines is particularly exposed to a range of 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 →