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Ghana: Value for Clients and Consumer Protection

Date: 
April/2019
Author: 
GIZ
Language: 
English
Topics: 
Financial Literary
The success of agricultural insurance depends on the demand by farmers. But while there is clearly a need for agricultural insurance, demand is not high among low-income farmers. A major factor is that the farming community has a low level of awareness about insurance. A key component within any agricultural insurance initiative is to educate farmers about the importance of insurance and how the products help them overcome difficult times. It is equally important to show farmers the limitations of insurance in order to not create unrealistic expectations
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IIPACC – Innovative Insurance Products for the Adaptation to Climate Change

Date: 
April/2019
Author: 
GIZ
Language: 
English
The core objective 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.
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Market Development - Ghana

Date: 
July/2018
Language: 
English
Topics: 
Market Development
There are two major challenges with respect to agricultural insurance in Ghana: 1. Enrollment : Scaling performance of the agricultural insurance market remains low (very few products). The growth rate of the sector is very slow (36% from 2011–2016). Very poor performances in 2012 and 2013 when overall enrolment dropped by 84% and 86% respectively. These challenges are attributable to the complexity of insurance products, financial illiteracy, and aversion towards new risk management approaches. 2. Claims : The only prominent claim pay-outs were in 2015 where 1,701 farmers received a payment...
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Developing Disaster Risk Management Approaches for Climate Risks

Date: 
July/2018
Language: 
English
The overall aim of the project is to prepare the ground for implementing risk transfer solutions within an integrated flood risk management approach for municipalities in GAMA, Ghana.
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“The Risk Modelling and Strategic Decision Making for Index Insurance” Technical Workshop

Content owner: 
Global Index Insurance Facility
Author: 
Pavis Devahasadin and Tenin Fatimata Dicko
Language: 
English
Topics: 
Data
Product design
More than 50 participants from 13 African nations gathered in Accra, Ghana, from May 1-5, 2017 to attend a regional workshop focusing on the fundamentals of risk modeling for index insurance and to discuss a wide array of agricultural insurance topics. “ The Risk Modelling and Strategic Decision Making for Index Insurance” workshop was organized by the Global Index Insurance Facility (GIIF), in collaboration with African Reinsurance Corporation. Managed by the World Bank Group’s Finance & Markets Global Practice, GIIF provides smallholder farmers, pastoralists, microentrepreneurs, and...
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IFC, Africa Re Develop Index Insurance Products to Increase Access to Finance for Farmers

Wed, 05/10/2017
Topics: 
General
Country: 
Ghana
Accra, Ghana, 27 April 2017 – IFC, a member of the World Bank Group, and Africa Reinsurance Corporation supported a two-day technical workshop on risk modeling and strategic decision-making for index insurance products. Most of the agricultural land in Sub-Saharan Africa is rain-fed, and many regions are vulnerable to climate shocks such as drought, flooding, and irregular rainfall. To limit their losses in any given year, smallholder farmers often invest very little into their land, which leads to reduced yields and contributes to food insecurity. Insurance can be a good risk management tool...
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Ghana: Agricultural Insurance Pool Rolls out Scheme for Farmers

Mon, 01/23/2017
Country: 
Ghana
The Ghana Agricultural Insurance Pool (GAIP) has rolled out a scheme that will make insurance for farmers easy to access, Ghana's Graphic Online reports . “The future is bright for agricultural insurance, what we need now is for farmers to embrace it. That is why we are working towards that. Because we have financial institutions who have expressed interest to partner with us and whatever they lend to farmers would have an insurance component, so that in the bad years the farmers would be comfortable and the financial institutions would be comfortable,” said General Manager Alhaji Ali...
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Innovative Insurance for the Adaptation to Climate Change in Ghana

Fri, 11/04/2016
Topics: 
General
Country: 
Ghana
Ghana is celebrating its Farmers’ Day with the theme "Agriculture: A Business Response To Economic Growth". The theme focuses on addressing alternative financial and agricultural solutions that will protect farmers from erratic weather conditions. One of the innovative solutions the country has is the project dubbed “Innovative Insurance Products for the Adaptation to Climate Change” (IIPACC), led by the German Development Co-operation (GIZ), in concert with other relevant stakeholders. "The project, which started in December 2009, sought to facilitate the development and introduction of...
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