Index Insurance Forum

Philippines

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IFC partnered with CARD Pioneer Microinsurance Incorporated (CPMI) in the Philippines to design and launch a new crop-insurance product to protect farmers from typhoon-related losses. It will initially target CARD’s farmer clients. CARD is the Philippines’ largest micro-finance institution with four million clients. “This is the first private sector-led crop-insurance product in the Philippines and a ground-breaking initiative by our partners CPMI and CARD,” said country manager Yuan Xu. The agriculture sector contributes approximately 11 percent of the country’s GDP and provides employment...
The International Finance Corporation (IFC), supported by the Global Index Insurance Facility (GIIF) and the Canadian government, has been working with CPMI (CARD Pioneer Microinsurance Inc.) and CARD MRI (the Center for Agriculture and Rural Development, Mutually Reinforcing Institutions) to create an index-based portfolio insurance product to insure the loan portfolios of lending institutions such as microfinance institutions (MFIs). They have also been working to provide advisory services for an indemnitybased crop insurance product to insure crop losses suffered by CARD agriborrowers, and...
IFC will work with the Center for Agriculture and Rural Development Insurance Agency and the Pioneer Insurance and Surety Corporation to design new insurance products that aim to protect Filipino farmers against typhoon-related losses, which are estimated to have exceeded $2.5 billion since 2009. According to the 2012 World Disaster Report, the Philippines ranks as the third most disaster-prone country in the world, with an average of 20 typhoons per year. The project will enable CARD Insurance and Pioneer Insurance to offer indemnity insurance to thousands of farmers and rural entrepreneurs...
The objectives are to create an index-based portfolio insurance product (to insure the agri-loan portfolio of CARD Inc.), and provide advisory services for an indemnity insurance product (insuring losses suffered by CARD agri-borrowers) – as well as build their capacity to administer the insurance products. The project will also provide advice/trainings for the effective management and administration of the products within CARD’s agri-lending operations.
MANILA, Philippines, October 23, 2014— The World Bank group this week brought together trade and agriculture officials from Africa, Asia, and Latin America with experts and private sector representatives for an international dialogue on how to overcome key trade barriers along agribusiness supply chains. The peer-to-peer learning event, titled “Leveraging Opportunities for Agri-Food Agencies in the Post Bali Era” and held in Manila October 22 and 23, aimed to help developing countries build efficient trade logistics systems and services that facilitate agribusiness trade while ensuring food...