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When and How Should Agricultural Insurance be Subsidized? Issue and Good Practices
GIIF and ILO's Impact Insurance Facility jointly published a paper entitled "When and How Should Agricultural Insurance be Subsidized? Issue and Good Practices". Authored by Independent Researcher Peter Hazell and World Bank Group's Panos Varangis and Rachel Sberro-Kessler, this paper discusses agricultural insurance subsidy in detail and draws upon available literature and case study experiences to propose some good practice guidelines for the design and implementation. The French version " Quand et comment l'assurance agricole devrait-elle être subventionnée? Enjeux et bonnes pratiques " is
Kenya Launches Free Insurance Cover for Pastoralists
The Government of Kenya has launched " Kenya Livestock Insurance Program (KLIP)" that will insure 100,000 household against drought by 2019. The program, which is an initiative of the National Government in partnership with local governments and private sector insurance companies, has an objective of reducing the risks of livestock mortality emanating from drought and of building the resilience of vulnerable pastoralists in arid and semi-arid lands (ASALs ) of Kenya through satellite-based index insurance. Under this program, "t he State Department of Livestock purchases premiums on behalf of
Previously published here on the World Bank Group's Private Sector Development Blog How governments can ensure that low-income farmers are financially protected against natural disasters, such as droughts, was at the heart of a panel discussion at the “ Global Index Insurance Conference ,” which concluded earlier this week in Paris. The panelists explored various options, such as the disaster reserve fund FONDEN in Mexico as well as three index-based insurance programs aiming to protect vulnerable farmers: the African Risk Capacity , the Kenya Livestock Insurance Program, and the Mexican
Dutch Donor Support for Agricultural Insurance
In an interview with the GIIF Team, Aaltje de Roos, Senior Policy Advisor - Department for Sustainable Economic Development at the Ministry of Foreign Affairs of the Netherlands, explains why the Netherlands provides substantial donor support for agri-insurance programs in developing countries, including the World Bank Group's Global Index Insurance Facility. Q: What role would the Netherlands like to see the World Bank Group, and specifically GIIF, play in the agri-insurance field over the next 5-10 years? A: The World Bank Group, and GIIF especially, can boost the private insurance branch in
Sophia Belay, Manager – R4 Rural Resilience Initiative, talks about increasing awareness of index insurance among farmers
Richard Choularton, Chief - Climate Resiliance for Food Security at UN WFP, talks about using index insurance solutions to manage climate risk issues
Jon Hellin, Value Chain and Poverty Specialist for CIMMYT, talks about climate risk management in agriculture
5th Annual Africa Insurers and Reinsurers Conference
The 2015 Africa Insurance & Reinsurance Conference will keep you up-to-date with the latest industry developments, marketing strategies and product innovations relevant for the African market. New technologies, development of new client segments and the overall economic growth in the continent is not only forcing regional insurers to rethink the way they conduct business but also forcing the global players to look at Africa as a strategic market for growth.At the 4th Annual Africa Insurance and Reinsurance Conference, will focus on key fundamentals to the business of insurance and discuss how
IFC, SANASA Insurance Contribute to Food Security in Sri Lanka through Weather Insurance
IFC, a member of the World Bank Group through its Global Index Insurance Facility (GIIF), has entered into a project agreement with SANASA Insurance Company Ltd, to support the development and use of flexible and affordable weather index insurance products to help minimize the impact of crop losses due to floods or droughts on farmer livelihoods. The project objective is to expand access to insurance for food crops such as rice and in turn offer protection for up to 15,000 small-scale farmers against weather-related risks and natural disasters. The project will also raise awareness amongst 50
Sustainable Crop Insurance in Response to Climate Change
Agricultural insurance plays an important role in stabilising farmers’ income and stimulating investment in agriculture. The market for these products has taken off since the Chinese government began to subsidise premiums. Challenges remain, however, and reinsurance can help support the industry with know-how and capacity.