Insurance scheme to protect poor from climate risks

A new insurance scheme to help poor people in Asia and Africa deal with the challenges arising from climate disasters has been launched. It is expected to meet nearly 1% […]

By Priyanka Shrestha

A new insurance scheme to help poor people in Asia and Africa deal with the challenges arising from climate disasters has been launched.

It is expected to meet nearly 1% of the ambitious goal of the G7 countries to increase access for around 400 million uninsured people in developing nations to insurance products.

The African and Asian Resilience in Disaster Insurance Scheme (ARDIS) hopes to help up to four million people and is designed to help farmers and small businesses receive credit after a climate shock.

It will mainly provide support to female farmers and their families, covering droughts and tropical cyclones and later expand to cover floods.

It is part of the InsuResilience Initiative, which was launched by the G7 countries in 2015.