Index Insurance Forum

Sub-Saharan Africa

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The core objective of the project was to build the resilience of food-insecure smallholders through an integrated risk management approach which includes weather index insurance, assets creation , credit and savings interventions, and climate services.
The core objective of the project was to understand where the index-based insurance is functioning well and where it must be improved to provide outputs potentially valuable for index insurance mechanisms, applications, and reliable scalability.
The core objective the project was to contribute to enhancing the resilience of those people dwelling in drought-prone areas such as southern parts of Oromia region and Somali region through a series of surveys/studies and implementation of pilot projects.
A newly designed Global Index Insurance Facility's Country Profile for Kenya is available for digital viewing. The document contains an overview of GIIF's project in Kenya with the partner, ACRE Africa.
The World Bank has stated that the Kenya Livestock Insurance Program (KLIP), an index insurance that insures vulnerable pastoralists in the northern counties, has so far paid out about 5.3 million U.S dollars to over 20,000 pastoralists, according to a Xinhua report .
Rwanda is hosting the 4th Eastern and Southern Regional Conference on Microinsurance aimed at sharing insights on inclusive insurance business models and strategies, Rwanda's The New Times reports. National agricultural insurance schemes and weather index insurance pilots will be discussed as tools for making agricultural insurance accessible to smallholder farmers.
On behalf of the German Ministry for Environment, Nature Conservation and Nuclear Safety, and Building (BMUB) Integrated Climate Risk Management (ICRM) concepts are being developed in selected country contexts to insure vulnerable population groups, private businesses, and governments against financial risks from extreme weather events. The resulting lessons learned are being made available for the international debate on climate risk management for replication and scaling-up purposes.
The objective of Innovative Insurance Products for the Adaptation to Climate Change (IIPACC) is to assist the insurance sector in Ghana to develop and offer innovative, demand-oriented and economically viable insurance products to cover financial risks on account of crop losses caused by extreme weather events and impact of climate change.
The term “financial literacy” means having the knowledge, skills, and confidence to manage your finances well, taking into account your economic and social circumstances. People who are financially literate are able to make sound financial decisions for themselves and their families, to make informed choices between different financial products and services, to budget and to plan ahead, to build up some savings, to protect themselves against financial risks, to invest prudently and to understand their rights and responsibilities.
There is a range of reasons for establishing agricultural and climate risk insurance, including adaptation to climate change, food security, disaster risk management or social protection. Regardless of the motives, however, creating an effective insurance system inevitably cuts across various political spheres. Hence, the first key element is to create a broad consensus amongst policy makers and their commitment to creating an enabling policy environment that fosters the necessary infrastructure. This includes the integration of agricultural and climate insurance into respective national...