Index Insurance Forum

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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 .
Reinsurance and insurance markets are changing rapidly. Insurers around the world have become increasingly sophisticated in managing their capital and risks. Consolidation, evolving solvency regulation and the spread of enterprise risk management are driving a trend of centralized re/insurance buying by insurance companies and large corporations, tailored to enable growth and steer group-wide risk appetite across all types of risks. To read the publication, please click here .
According to agriculture and development researchers, Southern African farmers facing hunger as a result of worsening drought know a lot about climate change but lack the resources to put solutions that work into place, Reuters reports. Such shortcomings are one reason an ongoing drought in southern Africa has left 23 million people dependent on food aid, with another 13 million in need of help, according to the Southern African Development Community. In addition, persuading farmers to buy indexed insurance remains a struggle, said Godwin Mashiri, a micro-insurance expert with mobile phone...
The Philippines's Former Agriculture Secretary is now pushing for an act mandating the Philippine Crop Insurance Corp. (PCIC) to offer index-based insurance coverage and allowing it to engage in reinsurance, increasing its funding source, and imposing heavier penalties on spurious claims, Manila Bulltin reports. Congressman Arthur Yap, Economic Affairs Committee Chairman, also said that "with stronger and modern insurance system in the agriculture sector, banks would be more confident to lend to farmers." Congressman Yap also specified the need to encourage private insurance companies to...
In a news feature , NDTV reports that weather insurance has become increasingly popular among Indian farmers as droughts and unseasonal rainfalls are destroying their crops.
In a podcast , NPR's Planet Money (The Economy Explained), listeners are taken on a journey in Africa to meet with the continent's farmers and learn about common risks they face in their crop productions - "Farmers don't grow enough of the things they're best at growing." Episode 723 also focuses on index insurance and discusses how access to finance can affect the farmers' investment choice.

Gloria Grandolini on disaster risk modelling

Gloria Grandolini, Senior Director, Finance & Markets Global Practice, World Bank Group attended the 43rd General Assembly in Rome. In this interview, Gloria discusses the opportunities and challenges around disaster risk modelling as well as public-private partnership opportunities for insurance.
In a blog post published on the World Bank Group's Voices and on Huffington Post, Gloria Grandolini, Senior Director of Finance & Markets Global Practice at the World Bank Group, wrote that market-based instruments – such as insurance ― can act as shock absorbers in case of natural disaster, helping countries around the world avoid the worst of a crisis’ financial impact. Ms. Grandolini also lists five reasons why investing in pre-crisis financial risk management can ease post-disaster recovery needs. As part of the World Bank Group’s Finance & Markets Global Practice, the Global...
Global Index Insurance Facility has produced a report that captures the Program’s achievements and on the progress of project implementation during phase one: 2010-2015. These achievements and lessons learned are the result of joint efforts, hard work and commitment with GIIF's implementing partners on the ground as well as generous support from the donors. Prepared collaboratively by the GIIF team across the globe, this report also offers a snapshot of past and future activities, including GIIF’s roles in capacity-building, outreach and communications efforts. Available in English and in...
The Government of Zambia has called on insurance firms to develop affordable weather index insurance products in the wake of climate change as they are part of the risk management mechanisms for crop protection among small-scale farmers, Zambia Daily Mail has reported. Minister of Agriculture and Livestock Given Lubinda said the effects of climate change are real, and Zambia is not excluded from the impact, evidenced by the negative impact of the El Niño phenomenon the country experiened during the 2015/16 farming season. “Therefore, farmers’ access to risk mitigation tools such as insurance...
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