The Malawian government has received an insurance payout of $11.2 million for a crippling El Niño-linked drought that led the southern African nation to declare a state of disaster earlier this year. The payout was given to Malawi this month, …
Zimbabwe received $31.8 million from African Risk Capacity, an arm of the African Union, as part of an insurance payout for the devastation the country suffered from an El Niño-induced drought. Finance Minister Mthuli Ncube told reporters on Thursday in …
Zimbabwe will get over half of an expected $60 million insurance pay out meant for four African nations as it reels from the impact of El Niño-induced drought that’s already slashed corn output and led to a state of disaster …
The African Union’s climate insurance agency will pay out at least $60 million to four southern African nations to help them offset the impact of a drought that’s been driven by the El Niño weather pattern, its director general said. …
A drought driven by the El Nino weather pattern is likely to trigger insurance payouts to four southern African countries who took out cover with an agency of the African Union. Malawi, Zambia, Zimbabwe and Mozambique will receive payments at …
Climate change is particularly perilous for small farmers. Warmer conditions are resulting in more damaging bouts of rain and drought, but traditional crop insurance products are often unavailable or financially out of reach. In Africa, 99% of smallholder farmers are …
Some of the first financial relief the Bahamas receives in the aftermath of Hurricane Dorian may be a rapid insurance payout from a novel program just 12 years old. CCRIF, once short for the Caribbean Catastrophe Risk Insurance Facility, was …
New types of insurance could cut the costs of natural disasters for poorer countries and reduce the amount of humanitarian aid needed, according to a report commissioned by Britain’s international development ministry. The cost of natural disasters to some of …
The African Risk Capacity (ARC) has teamed up with the African Development Bank (AfDB) to help African nations strengthen their resilience to weather-related risks. The ARC and the AfDB will work together to develop their member states’ understanding of the …
Willis Group Holdings is providing $1 million to help mobilize a global “Resilience Modelling and Mapping Forum” to address natural catastrophe risk, according to Dominic Casserley, CEO. The Resilience Modelling and Mapping Forum is a collaboration between the global re/insurance …
