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'Index Insurance Forum - An online knowledge platform for index-insurance practitioners globally
The Global Index Insurance Facility (GIIF) is a multi-donor trust fund supporting the development and growth of local markets for weather and disaster index insurance in developing countries, primarily Sub-Saharan Africa, Latin America and the Caribbean and Asia-Pacific. GIIF’s regional partners have insured over 600,000 small farmers, pastoralists and small businesses, with $119 million in sums insured, reaching over one million with information and access to index insurance. GIIF’s objective is to expand the use of index insurance as a risk management tool in agriculture, food security and disaster risk reduction.
Index insurance is a relatively new but innovative approach to insurance provision that pays out benefits on the basis of a pre-determined index (e.g. rainfall level, seismic activity, livestock mortality rates) for loss of assets and investments, primarily working capital, resulting from weather and catastrophic events, without requiring the traditional services of insurance claims assessors. It also allows for the claims settlement process to be quicker and more objective.'
More at: www.indexinsuranceforum.org
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