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African Risk Capacity expanding into flood risk in 2021

The African Risk Capacity (ARC), which provides parametric disaster insurance products for countries in Africa, is currently in a pilot phase with a new flood tool, that it hopes to roll-out more broadly next year. At a conference in Dakar this week, executives from the African Risk Capacity (ARC) discussed progress read the full article →

African Risk Capacity names new Director General

The African Risk Capacity (ARC) Group, a parametric sovereign disaster risk insurer for African nations, has elected a new Director-General (DG), with Ibrahima Cheikh Diong unanimously voted into the position. Diong is an African statesman from the Republic of Senegal and a Civil Engineer by profession. Diong will work alongside Lesley Ndlovu, read the full article →

Germany helps fund parametric risk transfer premiums for ARC member nations

The German government is helping African countries to continue benefiting from parametric drought insurance protection under the African Risk Capacity (ARC), with around EUR 19 million being donated to help fund their participation during a time when fiscal budgets may be stretched by the pandemic. The German government is assuming responsibility read the full article →

Berkshire Hathaway will write pandemic cover “at the right price”, Buffett says

For Berkshire Hathaway, the insurance and reinsurance underwriting conglomerate led by Warren Buffett, it's not simply a question of carefully crafted exclusions when it comes to pandemic risks, for the so-called Sage of Omaha is perfectly happy to underwrite it, as long as the price is right. Berkshire Hathaway reported its read the full article →

African Risk Capacity (ARC) to add parametric coronavirus insurance

The African Risk Capacity (ARC), a parametric sovereign disaster risk insurer for African nations, is planning to add coronavirus protection to its planned outbreaks and epidemics parametric insurance product, which it aims to have available from 2021. The work to develop a protection product based on a parametric index to support read the full article →

ARC and Southern African nations to work on parametric risk transfer

The African Risk Capacity (ARC), which provides parametric disaster insurance products for countries in Africa, has signed a memorandum of understanding with the Southern Africa Development Community (SADC) Secretariat to further enhance its members disaster resilience and risk financing. With the SADC region of Africa being particularly prone to climate and read the full article →

ARC & Africa CDC team on parametric outbreak & epidemic insurance

The African Risk Capacity (ARC) has teamed up with the Africa Centre for Disease Control (Africa CDC) to further its work on a parametric index to support outbreak and epidemic insurance and risk transfer at the sovereign level. ARC has been working on developing an outbreak and epidemic risk transfer offering read the full article →

Marsh, Munich Re & Metabiota launch parametric pandemic insurance

Global broker and risk consultancy Marsh has launched PathogenRX, an insurance product designed to protect businesses against pandemic risks such as the outbreak of infectious diseases, that utilises a parametric trigger provided by epidemic risk modeling specialists Metabiota and capacity from reinsurance giant Munich Re. The impact of infectious disease outbreaks read the full article →

ARC and Metabiota begin parametric outbreak & epidemic insurance pilot

The African Risk Capacity (ARC), a parametric sovereign disaster risk insurer for African nations, has begun a pilot with the help of San Francisco based Metabiota to roll-out parametric insurance cover against disease outbreaks and epidemics. The new parametric outbreak & epidemic insurance product has been coming for some time, as ARC read the full article →

Parametric outbreak & epidemic insurance launched by ARC

The African Risk Capacity (ARC), the provider of parametric sovereign disaster risk insurance and other support to African nations, has launched a new insurance product designed to cover disease outbreaks and epidemics. The outbreak and epidemic parametric insurance product has been designed to deliver rapid payouts and targeted funds for detected read the full article →