Index Insurance Forum

Legal/Regulatory frameworks

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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...
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

ITV Jon

Jon Hellin, Value Chain and Poverty Specialist for CIMMYT, talks about climate risk management in agriculture
PG activities started in 2012 with index insurance for maize and groundnuts. The first year the price of the product was very high and few farmers bought the product. The product was reviewed with the farmers’ organizations and CIRAD in 2013.
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
For Jeremiah Kithaka, farming maize on his three acre farmland is the primary source of livelihood enabling him to provide for his family of four. However, with changing rainfall patterns, delayed starts to the rainy seasons and longer and more frequent dry periods, Jeremiah has seen vast volatility in his income levels over the past few years.
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...
As Rwandan farmers face increasingly erratic rainfall, an innovative program launched today will use automated weather stations to offer 20,000 farmers in the Southern and Western provinces of Rwanda low-cost insurance to protect their loans for high-yielding seeds, fertilizers, and other farm inputs.
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