Webinar on sustainable index insurance markets
The Global Index Insurance Facility is organising a conference and webinar titled "Building innovative and sustainable index insurance markets in developing countries" on March 10, 2014, 12:00 - 02:00 pm (Washington DC time GMT-5)
The webianr will cover the following questions: Is index insurance scalable and affordable? Can index insurance reduce smallholder farmers? vulnerability to climate change and allow farmers access to finance and increased investment? Is index insurance equally suited to weather and disasters?
Web streaming links:
- Apple External-4 click here
- Blackberry External-4 click here
- Flash External-4 click here
- Streaming External-4 click here
For more information on the event click here or write to cfiles(at)ifc.org
Mobile microinsurance products and financial capability
Center for Financial Inclusion Blog, February 25, 2014
The Financial Inclusion 2020 campaign at the Center for Financial Inclusion at Accion is building a movement toward full financial inclusion by 2020. This blog spotlights financial inclusion efforts around the globe, shares insights from the FI2020 consultative process and highlights findings from “Mapping the Invisible Market.”
Read the blog here
SECP policy board approves microinsurance rules 2014
The Nation, February 20, 2014
The Policy Board of the Securities and Exchange Commission of Pakistan has approved the Securities and Exchange Commission microinsurance Rules, 2014. The rules prescribe the standards for conduct of microinsurance business while keeping strong focus on consumer protection, transparency, and disclosure requirements. In order to achieve consensus and to take all stakeholders on board, the SECP had formed a working group on microinsurance to propose a regulatory framework. The consultations were done with all relevant stakeholders, including the Insurance Association of Pakistan (IAP), Pakistan Microfinance Network (PMN), Pakistan Poverty Alleviation Fund (PPAF), State Bank of Pakistan (SBP), microfinance banks, and donor organizations.
Read the full article here
Weather Index Insurance to benefit from new NASA satellite
Center for Financial Inclusion Blog, March 3, 2014
NASA and the Japan Aerospace Exploration Agency have launched a new weather and climate satellite that generates a near-global view of precipitation, closing previous large observation gaps. This development has the potential to inform an array of important weather-related activities, including weather index insurance, which is well-positioned to benefit from the newly detailed precipitation data.
“This data will be a game-changer, especially as NASA plans to give access to everyone in the world,” says Véronique Faber, Executive Director of the Microinsurance Network, adding “Stakeholders involved in weather index insurance for small farm holders will watch this space closely!” .
Weather index insurance offers a payout to farmers in the event of extreme weather, such as drought or a hurricane. The financial support helps farmers sustain their families while their source of livelihood, their land, recovers. This safeguard also makes it less risky to take out loans to invest in the productivity of land. The payout is triggered by weather index readings that register as extreme weather. This mechanism yields low transaction costs – a necessity as it rarely is practical for insurance agents to travel to smallholder farmers and verify the weather and land conditions.
Read full blog here