Index Insurance Forum

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24
Jun
Last week, the United Nations’s Secretary General - Ban Ki-Moon, welcomed over 200 insurance representatives at the United Nations (UN) headquarters in New York for the 17-June UN Insurance Forum. During his inspiring speech, Ban Ki-Moon remarked that this was the first time that a UN Secretary General has ever met a congregation of global insurance leaders. He stressed that this was by no means a chance encounter and called upon the insurance industry to play a strong role in the quest for a more sustainable post-2015 world. He stressed that insurers should invest wisely into sustainable...
17
Jun
SEPTEMBER 14 and 15, OECD Headquarters, PARIS Climate risk and its impact has been an issue of key significance for the insurance industry. Risks are outlined for all eco-systems, societies, economies, industries and agriculture. Is Index Insurance the Solution? Index insurance is an innovative financial instrument to help poor smallholder farmers manage the increasing climate risks to their harvests. Index insurance will allow farmers to survive adverse weather or destroyed harvests and potentially open up agri-credit markets; enabling farmers to protect their assets and invest in their...
16
Apr
Join us for a Webinar on Thursday, 16 April 2015, 14:30 to 15:45 CEST/ 8:30 AM EST Register here The sustainability of agriculture insurance programmes relies primarily on reaching scale and controlling the costs of distribution. With this in mind, insurers are designing meso-level insurance policies that cover the entire portfolio of an aggregator. But while there are promising gains, there is still much to learn from implementing these solutions to achieve scale and efficiency. Jointly organized by the Global Index Insurance Facility and the ILO’s Impact Insurance Facility, this webinar...
1
Apr
“ We’re all Senegalese, and we should all have access to insurance ” says Yoro POULO BA, a groundnut farmer from Ndoffane, a commune from the center of Senegal who just received insurance payouts as part of the GIIF-supported index insurance project. This year, the rains during the month of July - the sowing period for groundnut - were extremely low, therefore triggering automatic payouts for what is called “sowing failure”. The payouts that he has received amount to about 30% of the total insured amount, which is the amount of credit that he has borrowed for seeds and fertilizers needed for...
Download full publication here. The International Association of Insurance Supervisors (IAIS) is a voluntary membership organisation of insurance supervisors and regulators from more than 200 jurisdictions in nearly 140 countries. The mission of the IAIS is to promote effective and globally consistent supervision of the insurance industry in order to develop and maintain fair, safe and stable insurance markets for the benefit and protection of policyholders, and to contribute to global financial stability.
Supported by the Global Index Insurance Facility (GIIF), the International Finance Corporation (IFC) is working with its partner, Green Delta Insurance Company (GDIC), to develop insurance products to address perils such as drought, excess rain, heat waves and cold spells in Bangladesh. This project has been providing technical support to Green Delta for weather data analytics, risk rating, pricing, and product design, and has been engaging with distribution channels in the country since 2015.
In New Delhi: Minakshi Seth Phone: +91 11 4111 1000 E-mail: MSeth@ifc.org In Dhaka: Towheed Feroze Phone: +88 028833755 E-mail: TFeroze@ifc.org Dhaka, Bangladesh, February 24, 2015 – IFC, a member of the World Bank Group, has signed an agreement with Bangladesh’s leading private insurer Green Delta Insurance to develop insurance products for individual farmers, agribusinesses, and financial institutions lending to farmers for protection from weather-related risks such as drought, excess rain, and cyclones. IFC will assist Green Delta, an IFC equity client, to develop insurance products that...
Big players such as Swiss Re plan to offer farmers in Africa, Asia and other emerging markets insurance products linked to weather indexes. Wagering on the weather might become a global business. Just ask the Climate Corp., an underwriter of insurance plans for farmers. Full article here
In the last decade, some insurance associations (IAs) have expanded beyond their traditional core functions to develop insurance consumer education (ICE) programmes. Based on a review of the experiences of IAs in five countries, namely Brazil, Colombia, Kenya, Mexico and South Africa, Microinsurance Paper #31 discusses the steps that should be taken during the preparation of an ICE. These include assigning responsibility internally, defining funding mechanisms, setting clear goals, defining the programme target and identifying partnership opportunities. It goes on to summarize key lessons for...
Full Publication here The four stages of agricultural development are: The case studies of Germany, the US, and South Korea reveal four largely linear stages of agricultural finance development within each country. These stages are differentiated by sources of farm debt, government roles, and the nature of farm structure and productivity. This briefing classifies these stages of agricultural finance development as: 1. The informally-served stage 2. The government-entry stage 3. The bank-based stage 4. The market-based stage
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