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Africa's climate insurance scheme expands, eyes aid agency clients

2015-07-09 17:34:00| Climate Ark Climate Change & Global Warming Newsfeed

Reuters: Africa's fledgling insurance scheme covering governments against drought expects to add five countries this year, expanding its client base to nine nations, and plans to offer insurance for tropical cyclones and floods from next May. In its first year of operation, African Risk Capacity (ARC), an African Union agency, insured Niger, Senegal, Mauritania and Kenya for $129 million in total losses, and paid out $26.3 million after three West African states suffered low rainfall. Senegal, Niger...

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