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26
Jan

Typhoon Insurance Shelter Filipino Farmers

by
Kitchie Hermoso
The Philippines is highly dependent on the agribusiness sector, which employs close to one third of its workforce and takes up to 40% of the country’s land . The country and the agricultural sector are also highly vulnerable to climate risks; it is ranked among the world’s highest disaster prone countries, and it is ranked the 3rd most disaster prone country in the world, experiencing multiple typhoons a year. These natural events cause significant damage to farms and the assets of small-holder farmers. The high risk of typhoons is one of the main reasons why most banks are unwilling to...
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Philippines: Competitive Markets and Enabling Policy Environment

Date: 
April/2019
Author: 
GIZ
Language: 
English
Topics: 
Market Development
Enabling Policy Environment
Competitive markets are best geared to respond to farmers’ need and offer tailor-made insurance products. It is the government’s responsibility to ensure a level playing field. This is particularly important in countries where state-owned insurers compete with the private sector. Policymakers and the regulator have to create a framework that provides all market players, public and private, the same access to infrastructure and services, such as access to data on weather or agricultural production. In countries where premiums are subsidized, all insurance companies have to be eligible to...
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MIPSS – Microinsurance Innovations Program for Social Security

Date: 
April/2019
Author: 
GIZ
Language: 
English
The core objective is to improve risk protection for low-income Filipinos across the country through the introduction of affordable and comprehensive microinsurance products.
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Natural Catastrophe Insurance for Low Income Groups in Asia

Date: 
April/2019
Author: 
GIZ
Language: 
English
The core objective is to offer insurance services against the effects of extreme weather events in order to enhance the financial stability of financial cooperatives by protecting their credit portfolios. The insurance benefits are passed on to the low-income members of these institutions.
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RIICE – Remote sensing-based Information and Insurance for Crops in Emerging economies

Date: 
April/2019
Author: 
GIZ
Language: 
English
The core objective is to provide better information on rice crop growth for food security policy and to reduce the vulnerability of smallholders in rice production caused by natural catastrophes.
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Climate and Catastrophe Risk Assessment

Date: 
April/2019
Author: 
Oasis
Language: 
English
The overall aim of the project is to co-develop new catastrophe risk models for floods in the Philippines and cyclone in Bangladesh, and to quantify the impacts of climate change on flood risk, to support risk management decisions and risk-based financing.
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FoodSECuRE – Food Security Climate Resilience Facility

Date: 
July/2018
Language: 
English
The core objective of the project is to financially and programmatically support community-centered early action to reinforce and build climate resilience.
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Op-ed: Binhi Micro-Crop Insurance Program

Thu, 09/21/2017
Topics: 
General
Catastrophe weather derivative
Country: 
Philippines
In a Business Mirror (Philippines) Op-ed , Dennis B. Funa, the Philippines's insurance commissioner, wrote that the Binhi Micro-Crop Insurance Program of CARD Pioneer Microinsurance Inc. will benefit smallholder farmers face typhoon risks. When leading portfolios of micro-finance institutions are protected by insurance, farmers are also protected. The Binhi Micro-Crop Insurance is supported by the Global Index Insurance Facility and the Government of Canada.
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AXA to Offer Parametric Insurance in the Philippines

Wed, 07/05/2017
Country: 
Philippines
AXA Global Parametrics is looking to offer its parametric insurance product in the Philippines, primarily targeting the local agriculture sector, Busines World Online reports . “In the Philippines, we don’t offer any products yet but we are working...[with] companies, partners to try to sell the product across the Philippines,” AXA Philippines Chief General Insurance Officer Claude Seigne said in the interview.
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Philippines' Crop Insurance Helps Farmers When Typhoon Strikes

Thu, 11/03/2016
Topics: 
Weather index
Country: 
Philippines
IFC partnered with CARD Pioneer Microinsurance Incorporated (CPMI) in the Philippines to design and launch a new crop-insurance product to protect farmers from typhoon-related losses. It will initially target CARD’s farmer clients. CARD is the Philippines’ largest micro-finance institution with four million clients. “This is the first private sector-led crop-insurance product in the Philippines and a ground-breaking initiative by our partners CPMI and CARD,” said country manager Yuan Xu. The agriculture sector contributes approximately 11 percent of the country’s GDP and provides employment...
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