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Fiji exempts parametric climate & disaster insurance from VAT

In a positive move to accelerate and widen the roll-out of important parametric insurance products to protect against climate and disaster risks, the Government of Fiji has exempted them from value added tax (VAT). It's the first time we know of where a government has moved to make disaster insurance more read the full article →

Global Parametrics links climate risk transfer to microfinance funding

Global Parametrics has collaborated on a new climate risk transfer product that integrates parametric risk transfer with the provision of debt financing to microfinance organisations and initiatives. CRED, or the Climate Resilience Enhanced Debt (CRED) product, has been jointly developed by Global Parametrics and Enabling Qapital, an impact investor and advisor read the full article →

InsuResilience Solutions Fund backs crop & livestock parametric insurance

The InsuResilience Solutions Fund, which is part of the InsuResilience Global Partnership, will fund and support the development of an index-based crop and livestock insurance solution for smallholder farmers in South Africa. It's the first funding announced by the InsuResilience Solutions Fund (ISF), which was established and is funded by KfW, read the full article →

Parametric livestock insurance pays out to Ethiopian farmers

An index-based livestock insurance program has paid out to almost 3,000 smallholder farmers in Ethiopia, after its parameters were breached by satellite data inputs, triggering payouts of the drought protection the scheme provides. The Index-Based Livestock Insurance (IBLI) was an early index or parametric microinsurance solution targeted at pastoralists in African read the full article →

Blue Marble & World Food Programme expand index insurance partnership

Blue Marble Microinsurance (Blue Marble) has announced an expansion of its weather-index parametric insurance partnership with The United Nations World Food Programme (WFP) in Africa. Blue Marble, backed by its shareholding global insurance, reinsurance and broking firms, has already been active offering its socially impactful, commercially viable parametric insurance protection to read the full article →

Blue Marble renews, expands Colombia parametric weather insurance

Blue Marble Microinsurance (Blue Marble) said it has renewed and expanded the weather index insurance scheme for smallholder coffee farmers in Colombia that it launched in 2018 in cooperation with Nespresso. The pair launched the program as a pilot scheme in late 2018, saying that because of climate change coffee producers read the full article →

Orbital Micro Systems targets enhanced weather insights for re/insurance & ILS

More granular and higher resolution satellite data from earth observations are set to improve weather and catastrophe event insights for the insurance, reinsurance and insurance-linked securities (ILS) industry, according to the CEO of Orbital Micro Systems. Orbital Micro Systems is a specialist in technology and data for space applications, with expertise read the full article →

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 →