PlaNet Guarantee activities in Burkina Faso started in 2010 and the first products were sold in 2011. MFIs and Banks were the main distribution partners. Such as a variety of distribution channels was the key to the project’s success.
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The project started in Benin in 2012. Raising awareness sessions were hold by the GEA for the clients of FECECAM. Despite a huge interest for the product there were no sales in 2012 due to the non authorization on time of the index product by the DNA. The distribution process of index products for two types of maize commenced in June 2013. PlaNet Guarantee provided satellite based weather index insurance and area yield index insurance for maize and cotton farmers in Benin and MFIs were the main distribution partners, in particular FECECAM, the largest MFI in Benin with a large network of branches throughout the country.
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Papua New Guinea (PNG) is a lower middle income country located in the Asian-Pacific region. Agriculture is the predominant source of livelihood in the country, with the agricultural sector accounting for 67% of the total labor force and 35% of the GDP in 2010. PNG has a very high exposure to earthquake, tsunami and volcanoes as well as being affected by climatic perils including tropical cyclones and the influence of the El Nino Southern Oscillation (ENSO) cycle which brings with it extremes of drought and excess rain and flooding.
In 2011, the World Bank Group and Partner Sanasa Insurance Company Ltd. (SICL) , supported by the Global Index Insurance Facility (GIIF), started working on stimulating the weather-related index insurance market in Sri Lanka through a combination of capacity building and awareness raising activities at both the institutional and the smallholder farmer levels.
52% of the population in Haiti lives in rural areas. However, Haitian agriculture historically remained unprofitable and financial credit to agriculture represents less than 1% of the total loan portfolio of banks. As a consequence, 60% of the food consumed in Haiti is imported. Agricultural production is severely affected by natural catastrophes such as excessive rain, hurricane strength winds, and droughts.
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Jamaica faces a variety of natural hazards and, on a combined-hazard basis, is among the most vulnerable countries in the world. It lies in the center of the Atlantic hurricane belt, on a complex area of the northern Caribbean Plate margin, and is subject to tropical rainfall and resulting erosion. Agriculture in Jamaica is vulnerable to various risks from extreme winds, to extreme rain, to droughts. A large part of the agricultural sector, including integrated supply chains as well as small farmers, is absorbing these climate risks, with neither publicly nor privately risk transfer mechanisms
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The recent path of Tropical Storm Isaac in September 2012 caused the destruction of plantain fields in the southern region. This situation forced the national authorities to provide in kind assistance (i.e. planting materials, fertilizers, cleaning labor, land preparation) to the most affected farmers. Although some insurers provide agriculture insurance, the Ministry of Agriculture does not have a pre-defined budget to tackle the negative effects caused by events in the agricultural sector while it faces significant contingent liabilities.
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Argentina’s agriculture sector is very vulnerable to weather risks. For instance, cotton in the Chaco Province - the most important cotton producing area in Argentina and the third poorest province - is very exposed to drought, excess rainfall and pests. Similarly, cattle-rearing in southwest Buenos Aires Province is very exposed to droughts which impact severely on pasture production.
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* World Bank announces $1.7 million funding for program * Designed to insure against hurricanes like Sandy in 2012 By Susana Ferreira PORT-AU-PRINCE, Haiti, Jan 29 (Reuters) - When Hurricane Sandy struck Haiti late last year, the home Guerda Pierre shares with her three children and mother in Cabaret, north of Port-au-Prince, was flooded - and so was the merchandise she sold to make a living. "The books, the food, everything was wet after Sandy," said Pierre. The plantain plants and beans in her garden were also destroyed. But unlike the majority of Haitians, Pierre had an insurance policy.
Agriculture in Rwanda accounts for one-third of Rwanda’s GDP; constitutes the main economic activity for rural households (especially women) and remains the main source of income. Today, the agricultural population is estimated to be a little less than 80% of the total population. The sector meets 90% of the national food needs and generates more than 70% of the country’s export revenues. (Source: Rwanda Development Board). Much of the agricultural land is rainfed, with little or no irrigation available. This is exacerbated by the fact that more than 68% of Rwandan land is on hillsides with a slope greater than 16%. The majority of agricultural activities are by non-commercialized smallholder farmers, with minimal investment leading to reduced yields and continued food insecurity. Commercial banks and microfinance institutions are using weather index insurance as a tool to reduce their portfolio at risk when lending to smallholders. This enables rural investment to increase, which in turns provides higher agricultural outputs leading to higher incomes. In addition, weather index insurance provides a safety net against the effects of adverse weather.