Index Insurance Forum

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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...
A newly designed GIIF digital brochure is available for online viewing . The document contains an overview of Global Index Insurance Facility, basic information about index insurance, active projects in Africa and Asia Pacific, and contact information. (Updated February 2018)
In June 2016, over 60 participants gathered at the College of insurance in Nairobi to discuss best practices and share their knowledge and expertise on index insurance, particularly livestock insurance and agriculture insurance. The discussions were quite timely, as the Government of Kenya recently allocated US$6 million for crop and livestock insurance for smallholder producers for next year, as one of the ‘key government flagship projects to drive the transformative agenda’. This is a five-fold increase in budget from the previous years with strong allocations toward data systems and...
In june 2016, over 60 participants gathered at the College of insurance in Nairobi to discuss best practices and share their knowledge and expertise on index insurance, particularly livestock insurance and agriculture insurance. The discussions were quite timely, as the Government of Kenya recently allocated US$6 million for crop and livestock insurance for smallholder producers for next year, as one of the ‘key government flagship projects to drive the transformative agenda’. This is a five-fold increase in budget from the previous years with strong allocations toward data systems and...
In a Sandee Working Paper, Mamata Swain and Sasmita Patnaik study two major crop insurance schemes operating in Odisha state of India: National Agricultural Insurance Scheme (NAIS) and the pilot Weather Based Crop Insurance Scheme (WBCIS). NAIS provides compensation for yield losses due to natural causes and covers all food crops and commercial crops. WBCIS provides coverage for paddy crop yield losses due to rainfall only. Both schemes are compulsory for loanee farmers and are also available for non-loanee farmers on voluntary basis. In this study, we analyze and compare various indicators...
Panos Varangis
Panos Varangis, the World Bank Group's Global Lead for agricultural finance and agricultural insurance in the Finance and Markets Global Practice, was speaking at a World Bank event on index insurance in Santo Domingo, Dominican Republic's Diario Libre reports. To an audience, Mr. Varangis was presenting index insurance as an alternative financial instrument that can protect agricultural producers in Dominican Republic from hurricanes, tropical storms, and floods. The country loses an average of US $450 million a year since 1961 by events associated with these types of disasters. Dominican...
With 1.5 billion people worldwide getting access to financial services through a post office, postal networks are powerful tools to advance financial inclusion. Posts have already proved to have comparative advantages in remote areas and with specific vulnerable groups – the poor, the less educated and those in the informal economy – compared with other financial services providers. This study by the Universal Postal Union (UPU) and the International Labour Organization (ILO) delves into the transformative potential of postal networks into well-suited providers of insurance. The report...
NAIROBI, March 12, 2016- The Government of Kenya today launched the Kenya National Agricultural Insurance Program, which is designed to address the challenges that agricultural producers face when there are large production shocks, such as droughts and floods. The program, which is designed as a partnership between the government and the private sector, was developed with assistance from the World Bank Group and builds on the experience of similar programs in Mexico, India, and China. One program line will focus on livestock insurance, while another will focus on maize and wheat insurance. “...
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