Côte d’Ivoire: index insurance soon to be experimented

Jan 23, 2018 | Financial Afrik

Index insurance will soon be a reality in Côte d’Ivoire.

According to a World Bank study presented this January 19 in Abidjan, four speculations, namely cocoa, cotton, rice and corn, are conducive to the establishment of this category of insurance. The paper presented by Fatou Assah, director of the Global Insurance Facility (GIIF), provides for a pilot phase of implementation with “two or three local insurance companies”. This phase will see the reinforcement of the technical capacities of these companies, actors of the agricultural world as well as Sodexam, the national meteorological society. “Côte d’Ivoire has a critical mass that allows this type of insurance to flourish,” said Cassandra Colbert, IFC’s regional representative. “We intend to close everything with our operational partners in order to start the pilot phase in June for the next agricultural campaign,” said Fatou Assah. It should be remembered that index insurance is an innovative type of insurance that covers climate risks for the benefit of the agricultural sector. This is an important way to stabilize the incomes of small farmers in the face of climate hazards. Source: Financial Afrik