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GIIF activities in Mali started in 2010 based on a funding from AECF (Africa Enterprise Challenge Fund) and ILO (Microinsurance Innovation Facility).
In Kenya, where more than 96 percent of agricultural land is rain-fed and vulnerable to drought and erratic rain, mitigating weather-related risks for smallholder farmers is an important tool for unlocking credit.
Haiti is one of the most disaster-prone countries in the world with earthquakes, hurricanes and flash floods.
The project will achieve the following objectives by project completion: 1. Support the development of a simple, flexible, affordable Weather-Index Based Crop Insurance product that will cater to diverse client needs for food crops in Sri Lanka 2. Assist in developing institutional capacity of SICL (Sanasa Insurance) and select agents 3. Raise awareness among at least 50,000 farmers on the availability of the index insurance product/s and its benefits
PlaNet Guarantee has designed various index insurance products in Benin, Burkina Faso, Mali and Senegal. The project works with Banks, MFIs, Cooperatives and NGOs as main distribution partners in these countries.
MicroEnsure operated two main weather index insurance products in Rwanda: 1) Weather station-based product that provides coverage against dry spells and excess rain. To insure against the effects of dry spells, cumulative rainfall is measured daily over a pre-determined period (typically between 30 and 45 days). If the cumulative rainfall falls below a set threshold for the period, a payout is made. 2) Satellite-based product that also provides coverage against dry spells and excess rain. Cumulative rainfall over a number of consecutive decades (typically three decades for dry spells and one...
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.
"Farming in Burkina can be very challenging. Uncertain weather conditions can have severely damaging impact on harvests and the ability of smallholder farmers to continue farming," says Sou Campaore, a 42-year old cotton farmer from Houndé, a farming village just outside Dedougou, a city in the western corridor of Burkina Faso. "Since the income from such an unpredictable harvest is not steady, we don’t get access to capital in order to implement more efficient farming practices and purchase better inputs. A bad season can also have a telling effect on the health and social position of...
Insurance Sector Vulnerabilities to Climate Change Presentation to the 2005 Meeting of the American Association for the Advancement of Science Environment & Public Policy Track Presented By: Evan Mills, Ph.D. U.S. Department of Energy University of California Lawrence Berkeley National Laboratory Berkeley, California - USA - eetd.lbl.gov/insurance
This interim summary report has been produced by Aon Limited and ESYS plc under contract ESRIN/Contract No. 17814/03/I-LG: Earth Observation Responses to Geo-information Market Drivers – Insurance Segment. It summarises three deliverables on the use of geo-information in the insurance industry.
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