Germany helps African countries maintain drought insurance in view of COVID-19

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Published Jun 16, 2020

Germany helps African countries maintain drought insurance in view of COVID-19

In view of COVID-19, climate risk insurances not only offer protection against extreme weather events. They also help mitigate the risk of a compound crisis. According to Maria Flachsbarth, Parliamentary State Secretary and Co-Chair of the InsuResilience Global Partnership, Germany’s covid-related premium support for the African Risk Capacity’s (ARC( drought insurance has a triple positive effect: "1. We are deliberately creating liquidity for our partners’ particularly urgent COVID-19 measures. 2. We are ensuring that the drought insurance, which is of vital importance to so many people, is not lost in the already difficult situation. 3. We are contributing towards stability for ARC member countries.”

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Germany helps African countries maintain drought insurance in view of COVID-19

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