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 →

Risk transfer needed to protect emerging economy agriculture

The increased severity and frequency of extreme weather and climate-related disasters presents a grave threat to the important agricultural sectors of emerging economies, a trend that is likely to continue without adequate risk transfer solutions and improved disaster resilience efforts.During the ten years spanning 2003 to 2013, 78 natural disasters read the full article →

Asia-Pacific needs ‘responsive’ disaster risk transfer instruments: ABAC

The Asia-Pacific region is in need of greater access to disaster insurance and risk transfer instruments which can be responsive to actual catastrophe or weather conditions, ensuring a rapid payout can be made, helping to boost the regions resilience.The importance of having access to post-disaster risk finance is becoming increasingly read the full article →

Peru buys catastrophe insurance to protect farmers from El Niño losses

The government of Peru has established a catastrophe insurance facility for the countries farmers, buying a private risk transfer contract to cover around 550,000 hectares of crops, aiming to cover losses up to around $156m.El Seguro Agrario Catastrófico (SAC), or the Agricultural Catastrophe Insurance, will provide cover t eight Andean read the full article →

Blue Marble Microinsurance aims to expand access to insurance

The Microinsurance Consortium and Venture Incubator (MVI) has announced the group will now operate under the name Blue Marble Microinsurance (Blue Marble), a venture launched earlier this year with a goal to increase access to insurance for the world’s most vulnerable people.The establishment of the consortium was revealed in January read the full article →

CelsiusPro & World Bank partner on Ukraine weather-index insurance

Swiss weather index insurance specialists CelsiusPro AG have partnered with the World Bank in a project implemented by the IFC to bring more affordable agriculture insurance to the Ukraine through index-insurance techniques.The aim is to ultimately make agricultural insurance in Ukraine more affordable for smaller companies, expanding farmers’ access to read the full article →