Microinsurance draws attention in wake of Hurricane Sandy

Haiti microinsurance

Microinsurance proves to be a benefit in Haiti The U.S. was not the only country to suffer from the onslaught of Hurricane Sandy in 2012. The powerful storm also tore its way through Haiti, leaving a path of destruction in its wake. Many people lost their homes and livelihood in the wake of the disaster, but it also brought a relatively unknown type of insurance program into the limelight as well. Hurricane Sandy brought attention to the Microinsurance Catastrophe Risk Organization (MiCRO), which has been a major boon for some…

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Reinsurer takes on microinsurance project to provide drought insurance for Ethiopian farmers

Swiss Re, a global reinsure with a focus on risk transfer and asset management, is set to provide five years worth of reinsurance to a new microinsurance project in Ethiopia. The project was developed by the United Nations World Food Program, a branch of the U.N. that confronts worldwide hunger issues, and Oxfam America, an organization concerned with climate change adaptation, food security and aid reform. This project aims to provide Ethiopian farmers with drought insurance for their crops. Swiss Re will be funneling more than $1 million toward the…

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