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GrainCorp set for pay-out from 10-year drought derivative contract: Report

According to a media report, Australian agribusiness giant GrainCorp looks to be eligible to claim as much as AU $57.3 million in a pay-out under the 10-year risk transfer arrangement it entered into this year that protects it against grain production variability, particularly from drought.The Australian Financial Review (AFR) has read the full article →

ILS an “important part” of Insurance Development Forum’s work: Ekhosuehi Iyahen

The Insurance Development Forum (IDF) considers insurance-linked securities (ILS) to be an “important part” of the work it aims to do, according to Secretary General Ekhosuehi Iyahen.Speaking at a recent lecture in the Old Library at Lloyd’s of London, Iyahen said it was in the interest of the IDF to read the full article →

Nephila adds new hedge for weather-driven renewable energy

Nephila Climate, the weather, climate risk and reinsurance focused unit of ILS fund management firm Nephila Capital, has added a new product to its suite of hedging solutions for operators of weather-driven renewable energy businesses.Nephila has specialised in this sector for some years now, providing hedges to enable greater certainty 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 →

Nephila Climate takes weather risk to assist Scout wind farm financing

Nephila Climate, the weather, climate risk and reinsurance focused unit of the largest ILS fund manager Nephila Capital, has participated in another wind farm financing transaction, taking the weather risk out of the equation for operators and investors in the renewables project.Nephila has long been involved in the weather and read the full article →

Parametric ILS “vital” to reduce protection gaps, increase resilience: Mark Carney, Bank of England

Mark Carney, the Governor of the Bank of England, discussed the role of insurance and reinsurance technology as an essential financial took to smooth the world's transition to a 1.5 degree world and highlighted the role of insurance-linked securities (ILS) within that.Speaking on Sunday in New York, on the sidelines read the full article →

IDF members commit $5bn of capacity to support InsuResilience goals

Members of the Insurance Development Forum (IDF) have committed to provide up to US $5 billion of risk capacity to support delivery of the InsuResilience Vision 2025 goals, while the United Nations and other sovereign actors have committed to extending climate and disaster insurance to 500 million.Announced yesterday in New 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 →