Index Insurance Forum


You are here

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.
The World Bank Group signed an agreement marking the $25 million contribution by the Dutch Ministry of Foreign Affairs in support of scaling up insurance markets in developing countries over the next five years, thus helping to ensure that agricultural insurance becomes a sustainable business model for smallholder farmers.

ITV Richard

Richard Choularton, Chief - Climate Resiliance for Food Security at UN WFP, talks about using index insurance solutions to manage climate risk issues
Guy Carpenter’s index insurance is distinguished by several unique features, including its use of a “portfolio pricing” model where the sum insured in a given region forms the basis for risk calculation. Compared to the alternative where each individual plot is priced separately, this method can result in lower premium costs by including more farmers and diverse areas in a group.
MiCRO is a reinsurance provider based in Barbados. MiCRO currently provides natural catastrophe and weather index insurance to microfinance institutions (MFIs), which in turn insure low-income micro-enterprises.
The development of sustainable index-insurance markets requires enabling legal and regulatory environments The adoption of the “CIMA Book VII” on April 5th 2012 was a major milestone allowing and regulating the development ofmicroinsurance and index-insurance for 15 countries in the Inter-African Conference on the Insurance Market or CIMA region In addition to this regional regulatory change, the Global Index-insurance Facility (GIIF) has supported national insurance supervision agencies with this transition. In particular, GIIF has assisted the Senegalese Insurance Supervision Agency with...
While access to credit is a key instrument to alleviate rural poverty, microfinance institutions (MFIs) are often unable to expand their agriculture lending portfolio. One of the key constraints that MFIs face is the exposure of agriculture lending to shocks such as drought, flood, or locust which can put farmers in a situation where they are unable to repay their loans. Major agriculture shocks can indeed lead to loan defaults and bank runs therefore resulting in destruction of risk capital, reduced access to liquidity, decreased lending and sometimes insolvency. Evidence shows that credit...
The Global Index Insurance Facility (GIIF), part of the World Bank Group’s Finance and Markets Global Practice, will launch , an online knowledge platform for index-insurance practitioners globally on January 20, 2015. The official launch event will be held in the ACP Secretariat in Brussels, Belgium and will see GIIF’s key donors, including the European Union and The African, Caribbean and Pacific States (ACP) Group, in attendance. The platform features knowledge products, research and discussions on key issues related to the development of innovative index-insurance...
For eight years, Chandrasiri Vanasunder, a small holderfamer in the Ratnapura district of Sri Lanka, bore the losses caused by drought and excess-rainfall on his 2-acre tea estate. But all that begun tochange in 2012, when a sales representative from Sanasa told him about ‘index-based insurance’ for tea plants. “As soon as I heard about the product, I knew that this was a good product. I have suffered severe losses in the past, and this seemed like a smart idea to help me prepare for future uncertainty.” Vanasunder’s judgment proved right, as approximately half -way through the last season,...
Niyitegeka Veneranda, 55 ans, est agricultrice au Rwanda. Elle a sept enfants et cinq petits-enfants. Alors qu’elle possède moins d’un hectare de terrain avec son mari, elle a réussi a construire une petite maison, à nourrir sa famille et à envoyer se trois plus jeunes enfants à l’école. Grâce à une assurance agricole, elle a obtenu un prêt d’une banque locale qui lui a permis d’accroître sa production de riz, et elle prévoit de demander un autre prêt l’année prochaine pour étendre encore sa surface cultivable.