Index Insurance Forum

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Asia needs to explore index Insurance and parametric solutions in its efforts to close the region's protection gap, according to the Monetary Authority of Singapore (MAS), Reinsurance News reports . “We must put in place mechanisms for the effective assessment, management, and transfer of disaster risks. Advances in technology, innovation, research, and market integration put us in a strong position to address these challenges,” Ravi Menon, MAS Managing Director, was quoted as saying.

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 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...
The International Labour Organisation (ILO)'s Impact Insurance Facility together with the Centre for Insurance and Financial Management Studies in Nigeria will be organising a training course for insurance practitioners from October 21 to 23, 2015 in Lagos. It is also being organised with the support of the Global Index Insurance Facility and in partnership with the GIZ of Germany. The training Unlock the demand for your products: How to deliver what your clients see as value” builds on a variety of resources that the ILO has produced during its six years of supporting innovation and research...
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Previously published here on the World Bank Group's Private Sector Development Blog How governments can ensure that low-income farmers are financially protected against natural disasters, such as droughts, was at the heart of a panel discussion at the “ Global Index Insurance Conference ,” which concluded earlier this week in Paris. The panelists explored various options, such as the disaster reserve fund FONDEN in Mexico as well as three index-based insurance programs aiming to protect vulnerable farmers: the African Risk Capacity , the Kenya Livestock Insurance Program, and the Mexican...
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.
In an interview with the GIIF Team, Aaltje de Roos, Senior Policy Advisor - Department for Sustainable Economic Development at the Ministry of Foreign Affairs of the Netherlands, explains why the Netherlands provides substantial donor support for agri-insurance programs in developing countries, including the World Bank Group's Global Index Insurance Facility. Q: What role would the Netherlands like to see the World Bank Group, and specifically GIIF, play in the agri-insurance field over the next 5-10 years? A: The World Bank Group, and GIIF especially, can boost the private insurance branch...
Farmers know that there will be years when the crop yields are reduced, or prices will be low. Perhaps they will diversify their crops, depend on livestock, or purchase a system to irrigate their crops. All these are ways to mitigate and reduce their risks. When there is no insurance culture or trust in insurance companies -and insurance companies themselves may not have extensive experience selling agricultural insurance - there is understandably little interest to purchase crop insurance. In such cases, it is the government who is the de facto insurer because crop losses of more than 50...
IFC will work with the Center for Agriculture and Rural Development Insurance Agency and the Pioneer Insurance and Surety Corporation to design new insurance products that aim to protect Filipino farmers against typhoon-related losses, which are estimated to have exceeded $2.5 billion since 2009. According to the 2012 World Disaster Report, the Philippines ranks as the third most disaster-prone country in the world, with an average of 20 typhoons per year. The project will enable CARD Insurance and Pioneer Insurance to offer indemnity insurance to thousands of farmers and rural entrepreneurs...
Geneva, Switzerland July 24, 2014 – The International Labour Office (ILO) and the World Bank Group (WBG) have signed a memorandum of understanding that aims to provide access to improved insurance products to hundreds of thousands of smallholder farmers, small businesses and individuals in Asia and Africa. The three year partnership is the first-of-its-kind within the rapidly evolving index insurance industry. The Facility and GIIF combine their strengths to improve the delivery of index insurance to farmers and their families as well as businesses, through extraction, dissemination and...
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