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Blue Marble works with Nespresso on parametric weather insurance pilot

Blue Marble Microinsurance (Blue Marble) is working with coffee company Nespresso on a pilot program to deliver weather index insurance to smallholder coffee farmers in Colombia.The pair note that due to climate change producers of coffee are particularly exposed to weather variability and extremes, resulting in a need for risk read the full article →

Peru to expand El Niño agricultural catastrophe insurance cover

The Peruvian government and the Ministry of Agriculture have chosen to expand the country’s El Seguro Agrario Catastrófico (SAC), or the Agricultural Catastrophe Insurance scheme, to include five more regions, with the launch of an international tender, according to reports.Reports in peruthisweek.com underline the recent impact of El Niño on read the full article →

World Bank’s IFC partners on Indonesian parametric climate insurance

The World Bank Group’s global development institute, International Finance Corporation (IFC), will collaborate with Indonesia’s PT Reasuransi MAIPARK to develop parametric insurance solutions for the country’s agribusinesses against the increasing threat and costs of natural disaster and climate events.The IFC and MAIPARK, a specialist risk reinsurance firm owned by all read the full article →

World Bank, Swiss Re backed Kenya livestock index insurance pays out

An index-based livestock insurance program in Kenya, which was launched with the backing of the World Bank and with reinsurance from Swiss Re, has been triggered and will pay out $2 million to farmers hit by drought.The index insurance product utilises satellite technology to monitor and measure the state of read the full article →

Swiss Re backs MiCRO catastrophe index business interruption cover

The Microinsurance Catastrophe Risk Organisation (MiCRO), a Barbados based reinsurance company that leverages the capital efficiency of the international reinsurance market alongside donor capital, has launched a novel index-linked business interruption policy.MiCRO launched in 2011 with the backing of Swiss Re, among others, to bring efficient insurance risk transfer products read the full article →

Satellite data supports the development of risk transfer solutions

Satellite data plays an important role in the establishment and success of risk transfer triggers and index insurance schemes, and as technology has advanced the use of satellites has expanded and become more efficient, supporting the growth of innovative agriculture insurance and reinsurance solutions.The agricultural sector of many emerging, poorer read the full article →

As microinsurance penetrates Africa reinsurance capacity need will grow

Parametric or weather-index insurance cover through microinsurance schemes continues to expand its reach across Africa, a trend that could result in greater demand and utilisation of reinsurance and insurance-linked securities (ILS) capacity.During 2014 total identified microinsurance written premiums across Africa increased to $756 million, from $387 million in 2011, representing read the full article →

Science, innovation, and risk transfer key to disaster resilience: Experts

A continued and advanced use of science to enhance risk modelling, innovation to drive efficiency, and the experience and skills of the global risk transfer landscape are required to support and improve global disaster resilience efforts, according to speakers at a recent Start Talks event.Improving global disaster resilience efforts, coupled read the full article →

Scope for re/insurance growth in frontier markets: Swiss Re

Boosting insurance and reinsurance penetration in emerging markets is seen as key to building global disaster resilience and creating opportunities for re/insurers. But there’s also scope for companies to seriously look at expanding coverage in frontier markets, according to reinsurance giant Swiss Re.Frontier markets are typically smaller, less well-developed markets read the full article →

World Bank backs index insurance scheme to assist Kenyan farmers

Farmers in Kenya are set to benefit from the launch of a new innovative, index insurance scheme which utilises advanced technology and satellite data to assist agricultural workers in the face of flooding and drought conditions.Collaboration between public and private sector entities, with the assistance of the World Bank has read the full article →