UN negotiators at Bonn consider micro-insurance schemes among adaptation measures for Africa, Asia and Latin America
For more than half a million farmers in rural India the age old fear of crops failing due to bad weather could soon be banished, thanks to an innovative insurance scheme that UN negotiators gathering in Bonn this week are considering as a central component of climate change adaptation measures in Africa, Asia and Latin America.
Following a successful trial last month, MicroEnsure, a company specialising in providing insurance to poor communities, plans to launch a scheme next year for up to 600,000 farmers in India's Kolhapur province allowing them to insure against their rice crops failing due to drought or heavy rains during the plants' flowering period.
Chief executive Richard Leftley said micro-insurance policies — so
-called because of their relatively low premiums — will be offered to farmers with loans from the local Kolhapur District Cooperative Bank.
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