Index Insurance Forum

Rwanda

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Parametric insurance has the potential to serve a significant developmental role in Africa, as it pays out benefits based on a predetermined index for losses resulting from catastrophic events, Clyde & Co's Max Ebrahim and Wynne Lawrence wrote in Commercial Risk Online . In the article, GIIF's collaboration with ACRE Africa , which is serving the populations in Kenya, Rwanda, and Tanzania, is also cited.
In this report, GIZ explores the trends in agricultural insurance and public relief as risk management tools in rural areas of developing countries. The report takes a closer look at the challenges in scaling up index-based insurance, linked to the demand form farmers, the design of indexes, the distribution of the insurance products, and the changing climate. Authors Ulrich Hess and Peter Hazell also propose solutions to the challenges in scaling up index insurance. To read the report, please click here .
In an address to an audience at an Adaptation Futures 2016 plenary session in Rotterdam, UN Special Advocate for Inclusive Finance for Development, Her Majesty Queen Máxima of the Netherlands said financial services that are inclusive would enhance the vulnerable populations’ ability to escape poverty. Financial inclusion is particularly important for smallholder farmers. Without access to credit, they could become caught up in activities with declining productivity and incomes. Along with savings and remittances, insurance is an important financial instrument that helps smallholder farmers...
Representatives of agricultural financing agencies in Africa are expected in Kigali, Rwanda, next month to come up with solutions to farmers’ financing challenges, KT Press of Rwanda reports. At the African Rural and Agricultural Credit Association-AFRACA conference on best practices in rural agriculture finance, experts will discuss “fast-tracking replicability of functional models in rural and agricultural Finance.” The conference will also discuss weather index insurance, which was recently introduced in Rwanda, the report adds. Headquartered in Nairobi, AFRACA is a regional association of...
In a VOA article, the Kilimo Salama projected, funded by the Global Index Insurance Facility and the Syngenta Foundation, is cited for having provided insurance to about 200,000 farmers in east Africa, mainly in Kenya, Rwanda and Tanzania. Because it is so expensive to verify losses on large numbers of small landholdings, the traditional type of individual loss-based insurance is not always viable. That has led to index-based insurance for smallholder farmers for weather-related risks. In the long run in the developing world, specialists say, what is needed most is investment in science and...
For several years, insuring harvests against the climate hazards that regularly destroy farmers’ crops in developing countries has for several years been a major tool in the fight against poverty, mainly in Africa and Asia, where between 400 and 500 million farmers survive on very low incomes. At the Convergences World Forum in Paris on 9 September 2015, Syngenta Foundation for Sustainable Agriculture and GIIF speak about the innovations in index insurance and the success of the Kilimo Salama project in Kenya, Rwanda, Tanzania. Expanded in 2014, the program develops and offers insurance for...
One of the world’s largest reinsurance firms, Swiss Re, recently announced that two million African smallholder farmers are now protected against drought, floods and other natural perils, thanks to the efforts of the World Bank and Swiss Re Corporate Solutions. Back in 2012, Michel Lies, Swiss Re’s Chief Executive Officer (CEO) made a commitment that by 2017 it would protect 1.4 million African smallholder farmers from weather and catastrophe risks, through increased insurance protection. And now the Switzerland-based reinsurer has revealed that not only has the amount of farmers covered...
Agriculture in Rwanda accounts for one-third of Rwanda’s GDP; constitutes the main economic activity for rural households (especially women) and remains the main source of income. Today, the agricultural population is estimated to be a little less than 80% of the total population. The sector meets 90% of the national food needs and generates more than 70% of the country’s export revenues. (Source: Rwanda Development Board). Much of the agricultural land is rain-fed, with little or no irrigation available. This is exacerbated by the fact that more than 68% of Rwandan land is on hillsides with...
GIIF, a member of the World Bank Group, signed two grant agreements, with a combined value of $3.9 million, with the Syngenta Foundation for Sustainable Agriculture to expand index-based insurance to small-scale farmers in Kenya, Rwanda and Tanzania. Index-based weather insurance can protect against the adverse effects of climate change and help to strengthen food security in rural communities.

ITV Sophia

Sophia Belay, Manager – R4 Rural Resilience Initiative, talks about increasing awareness of index insurance among farmers
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